January 6, 2021 7:32pm
Major GLI wins in Congressional year-end spending and COVID relief bill you may have missed
The legislative package passed by Congress last month included several major spending provisions as well as much-needed fiscal and economic relief for businesses and individuals impacted by the COVID-19 pandemic. While the economic relief payments, unemployment benefits expansion, and other provisions grabbed most of the headlines, the bill also included numerous other key measures (almost 6,000 pages worth), including several priorities that GLI has aggressively advocated for. Read below for some important policy wins for Greater Louisville that you may have missed.
- Business expenses paid for with forgiven Paycheck Protection Programs (PPP) loans that would typically qualify as tax deductible still qualify for deductions. The IRS had previously prohibited this.
- The bill expanded PPP to include qualifying 501(c)(6) organizations, like Greater Louisville Inc., and Destination Marketing Organizations (DMOs) like our partner, Louisville Tourism.
- Almost $200 million to help improve Louisville flood protection system
- Expansion of access to, and an $150 increase for, Pell grants
- A repeal on the prohibition for Second-Chance Pell grants
- $15 billion for a grant program to aid venues, museums, and zoos experiencing substantial revenue losses (nationally)
- $10 billion in funding to support the child care sector (nationally)
- $1.6 billion in funding for substance abuse treatment and prevention (nationally)