Aviation Manufacturing Jobs Protection Act of 2020
Aviation Manufacturing Jobs Protection Act of 2020
This bill makes available payroll assistance to eligible aviation employers impacted by the COVID-19 (i.e., coronavirus disease 2019) public health emergency. Specifically, aviation employers demonstrating that economic conditions require a permanent reduction or furlough of a portion of their employees may enter into an agreement with the Secretary of the Treasury to receive up to 50% of the amount of base compensation and benefits for the 25% of its employees most at risk of such reduction or furlough, excluding senior executive employees.
Assistance under this program is available through April 30, 2022, and Treasury must establish an application process and minimum eligibility requirements for participation in the program not later than 10 days after the enactment of this bill.
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.