The American Gaming Association (AGA) lauded the efforts of the US Senate in passing the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The association said it would help finance the gaming industry during the novel coronavirus (Covid-19) crisis.
Bill Muller, AGA president and chief executive, persuaded the US House of Representatives to act quickly and pass the legislation, which would enable the bill to progress to US President Donald Trump.
The president has already promised to sign the bill immediately as possible.
The bill was introduced by Mitch McConnell, Kentucky state Senator and Senate Majority Leader. It includes a $2 trillion stimulus package for people, states and business heavily impacted by the pandemic.
This covers emergency loans for affected businesses such as air carriers, for whom aviation taxes have been suspended. Bridge loans for small business and grants and technical assistance will also be provided.
The bill will also make $1,200 tax rebates available for individuals, with additional payments amounting to $500 per qualifying child, as well as limits on requirements for employees to provide paid leave. The available rebates decrease according to an individual’s salary from $75,000 and above.