WASHINGTON, D.C. – In response to passage by the House of Representatives of The Heroes Act, which includes provisions to expand eligibility for U.S. Small Business Administration loan access to struggling local newspapers and radio and television stations, the following statement can be attributed to NAB President and CEO Gordon Smith:
“NAB applauds House passage of The Heroes Act that would expand eligibility to Payroll Protection Program loans for local media outlets, including radio and television stations. America’s broadcasters and hometown newspapers have been providing comprehensive coverage and critical information during the COVID-19 pandemic, even as they face unprecedented financial hardships that threaten local journalism.
"We thank Speaker Pelosi and Chairwoman Velázquez for including provisions to support local broadcasters during these difficult times, and we appreciate the leadership of Reps. Cicilline and Sensenbrenner, Senators Cantwell, Boozman, and Schumer, and their cosponsors in both chambers in support of these important provisions.”
The expansion of PPP for local media would:
In May, Reps. David Cicilline (D-RI) and Jim Sensenbrenner (R-WI) introduced the Local News and Emergency Information Act in the House, standalone legislation that would expand eligibility for U.S. Small Business Administration loan access to struggling local newspapers and radio and television stations. Sens. Maria Cantwell (D-WA), John Boozman (R-AR), Amy Klobuchar (D-MN), Joni Ernst (R-IA) and Charles Schumer (D-NY) introduced the Local News and Emergency Information Act in the Senate, and the bill continues to garner bipartisan support.
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