Tuesday, August 11, 2020
A second letter of support for arts and culture in the new COVID-19 relief package has been completed by 204 local Chambers of Commerce in 50 states! This is a substantial increase from a similar May letter, which garnered 140 signatories from 39 states.
Crafted again by the Greater Boston Chamber of Commerce and in coordination with American Alliance of Museums, New England Aquarium, Wildlife Conservation Society, and Americans for the Arts, the letter was sent to Congressional leadership on August 6.
This letter calls for the following provisions:
- Increase the allocation to at least $6 billion for the Institute of Museums and Library Services, the National Endowment for the Arts, and the National Endowment for the Humanities to provide direct economic relief.
- Require the Federal Reserve to broaden their nonprofit lending facility under the Main Street Lending Program to specifically benefit mid-size nonprofits.
- Increase and extend the Paycheck Protection Program and loan forgiveness provisions in the CARES Act.
- Expand the universal charitable deduction provision to increase the amount to one-third of the standard deduction, allow taxpayers to claim the deduction on both 2019 and 2020 returns, and extend the charitable deduction provided by the CARES Act through 2021
If your chamber is listed in the final letter, please take a moment to reach out and thank them. Business and arts partners can work closely together to weather this crisis, and this show of support is an incredible example.