Finally, BLAKE & WANG P.A Entertainment Attorney Los Angeles can have the happy role of reporting that the House of Representatives has passed a COVID-related bill that includes the entertainment industry. Sure to have many celebrating, let’s take a closer look at all the details.
Early on Saturday, we saw the $1.9 trillion American Rescue Plan finally pass. This not only represents the most comprehensive COVID relief bill to date, it’s also President Biden’s first legislative achievement of his tenure.
Of course, this isn’t the final hurdle for the bill, which must now pass the Senate. It was a narrow victory in the house, too, passing at 219-212. Surprisingly, 2 of those nay votes were from Democrats, and, of course, all Republicans as well. Despise this, it has passed, and must now proceed up the chain of command for approval.
Given that many of the problems accessing state programs for the entertainment industry have come from the self-employed and contractual and/or ‘gig economy’ nature of many of its workers, this isn’t the only positive news afoot. A separate effort launched by the Biden administration seeks to change how contractors, sole proprietors, and ‘gig workers’ are counted for PPP loans, swapping to gross income as the basis to calculate. This could have a significant impact on the industry. Likewise, the Small Business Administration has established an exclusive period (until March 10th) during which only businesses with fewer than 20 employees can apply, encouraging the smallest employers to take advantage while they can.
While we’re not out of the woods yet, the combined effect of these new measures, alongside the wide-ranging effects of the new stimulus bill, should have an overall positive effect on the entertainment industry. With luck, much-needed relief will finally make it to those who need it most. BLAKE & WANG P.A Entertainment Lawyer will continue to bring you updates on the bill as it proceeds through the Senate and beyond.
