Covid-19 Relief Funding for Private Transit Services Industry


Covid-19 Relief Funding for Private Transit Services Industry
The Issue
Private Transit Services (PTS) Industry accounts for 14+ Million - 28.6% of 50 million daily passengers. We are a segment of the People Transportation Services industry, which is also served by Public Transit Agencies, Airlines and Amtrak who carry the remaining 71.4% of 50 million people.
The PTS Industry - like the other three segments - has been hit pretty hard with the pandemic and has seen 90%+ drop in revenues in April / May with full recovery not expected until early 2022. While the other 3 segments have received $51B grants and $25B loan facility under Cares Act 1.0, the PTS industry has not received ANY funding.
The PTS Industry is driven by 155,806 Small Business Enterprises who have built the industry from the group up since the deregulation of transportation services industry since the early 80's. While all other modes of people transportation receive public funding and have already received Covid-19 relief funding, the PTS industry has been built without ANY public - local, state or federal - funding. The industry survived the 2008-2009 global depression without any public funding.
With the demand and revenues dropping by 90%+ in the months of April and May and projected 80%+ loss through the end of 2020, this is one time the Industry and 494,638 people it employs need your help, support and public funding. The Industry needs $11.75B grant and $10.00B loan facility to weather the downturn and projected $20.4B revenue loss over the next 6 quarters.
With the PPP program ending in a few weeks, the industry needs the funding commitment urgently and immediately.
There is broad recognition among the Senators that the industry needs relief funding as evidenced by this Letter from 28 Senators to Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer.
Please sign this Online Petition to support our Industry that has been delivering Essential Private Transit Services to 14+ million passengers daily without any public funding.
For more details about the proposed Relief funding plan please visit : https://onetouchos.com/covid-19-relief-funding
Thank you for your support!
748
The Issue
Private Transit Services (PTS) Industry accounts for 14+ Million - 28.6% of 50 million daily passengers. We are a segment of the People Transportation Services industry, which is also served by Public Transit Agencies, Airlines and Amtrak who carry the remaining 71.4% of 50 million people.
The PTS Industry - like the other three segments - has been hit pretty hard with the pandemic and has seen 90%+ drop in revenues in April / May with full recovery not expected until early 2022. While the other 3 segments have received $51B grants and $25B loan facility under Cares Act 1.0, the PTS industry has not received ANY funding.
The PTS Industry is driven by 155,806 Small Business Enterprises who have built the industry from the group up since the deregulation of transportation services industry since the early 80's. While all other modes of people transportation receive public funding and have already received Covid-19 relief funding, the PTS industry has been built without ANY public - local, state or federal - funding. The industry survived the 2008-2009 global depression without any public funding.
With the demand and revenues dropping by 90%+ in the months of April and May and projected 80%+ loss through the end of 2020, this is one time the Industry and 494,638 people it employs need your help, support and public funding. The Industry needs $11.75B grant and $10.00B loan facility to weather the downturn and projected $20.4B revenue loss over the next 6 quarters.
With the PPP program ending in a few weeks, the industry needs the funding commitment urgently and immediately.
There is broad recognition among the Senators that the industry needs relief funding as evidenced by this Letter from 28 Senators to Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer.
Please sign this Online Petition to support our Industry that has been delivering Essential Private Transit Services to 14+ million passengers daily without any public funding.
For more details about the proposed Relief funding plan please visit : https://onetouchos.com/covid-19-relief-funding
Thank you for your support!
748
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Petition created on July 5, 2020




