New $10 Billion Plan Proposed to Save Live Music Venues

New $10 Billion Plan Proposed to Save Live Music Venues
New $10 Billion Plan Proposed to Save Live Music Venues

A new bill of $10 Billion has been proposed in the Senate to save independent live music venues across the US. Puza Snigdha reports.

A new financial plan has been provided by the senators John Cornyn and Amy Klobuchar and on Wednesday, they have submitted The Save Our Stages Act. It is a $10bn Small Business Administration grant programme for independent venues affected by the COVID-19 pandemic.

“Texas is home to a number of historic and world-class small entertainment venues, many of which remain shuttered after being the first businesses to close,” said Senator Cornyn.

“The culture around Texas dance halls and live music has shaped generations, and this legislation would give them the resources to reopen their doors and continue educating and inspiring Texans beyond the coronavirus pandemic.”

Following this pandemic all the venues remained close and the venue owners, promoters informed that if the concerts are not able to resume this year, 90 percent of venues are in risk and may shutdown permanently.

“Our members told us months ago that if the shutdown lasted six months or longer and there wasn’t federal relief to hold them over, 90% of them would fold permanently,” said Dayna Frank, president of NIVA and CEO First Avenue Productions.

However, the new bill plan would provide six months of financial support from which rent, mortgages, utilities, PPE, payments to contractors, maintenance, administrative costs, taxes etc. can be clear.

“The Save Our Stages Act will provide the assistance we need to get through the shutdown until we can reopen safely and once again become the economic generators for our communities that we’ve always been.”