WASHINGTON, July 31, 2020 /PRNewswire/ -- The following is a statement from Teamsters Airline Division Director Capt. David Bourne regarding the CARES Act's Payroll Support Program (PSP):
"Congress passed crucial legislation earlier this year to ensure aviation workers would be able to keep their jobs and benefits until September 30, but those protections are going to expire. An extension of the PSP is the only way to stop massive job losses from roiling our nation on October 1.
"The effect these job losses would have on our country, our industry and the entire economy will be too much to bear. Airlines are going to be crucial for getting this country back up and running as we get a handle on the coronavirus. Hundreds of thousands of jobs were saved as a result of the first COVID-19 stimulus package, and the jobs of aviation workers aren't any less important now than they were then. Only through an extension of the PSP program can we ensure that airline workers will continue to stay employed and be ready to get our country moving.
"Therefore, we are calling on Congress to increase PSP funding levels by an additional $32 billion; extend all previous requirements relating to involuntary furloughs, share repurchases, dividend payments, and collective bargaining agreements to March 31, 2021 and require the Treasury Department to immediately disburse funds to every air carrier and contractor that executed a PSP agreement at an amount equal to their current payroll support."
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at www.facebook.com/teamsters.