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March 25, 2020 | CEO's Corner

RIAA Statement on Senate Passage of COVID-19 Stimulus Bill

WASHINGTON, D.C. (March 25, 2020) – Mitch Glazier, Chairman and CEO of the Recording Industry Association of America (RIAA), released the following statement today on Senate passage of the Phase III stimulus package to address the devastating economic impact of the COVID-19 pandemic.

“We applaud Leaders McConnell and Schumer, Secretary Mnuchin, and all Members of the Senate and the Administration who worked to include direct financial aid to Americans in need in the stimulus package the Senate passed today. The music community always steps up to help Americans get through trying times and circumstances, and this legislation steps up to help our community face unique circumstances during this national emergency.

“We are grateful that the stimulus package contains emergency access to unemployment insurance for those who cannot work due to a canceled performance or a production shut down. Access to this expanded unemployment insurance will ensure that hundreds of thousands of musicians’ families across the country can continue to pay rent, put food on the table, and care for their children during this public health crisis.

“In addition, the legislation includes access to small business loans, as well as payment deferrals, which will make it easier for musicians, who often act as independent contractors and sole proprietors, to obtain and pay a loan.

“We also applaud the provision that provides more funding for the National Endowment of the Arts to give grants to arts organizations that provide relief to musicians.

“We know the power of music will help us get through this crisis, but we also know that economic pain will continue to cut even deeper in the weeks and months ahead. We look forward to working with the House to get this relief across the finish line as quickly as possible.”

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Contact:

K. Kim Atterbury (katterbury@riaa.com)