Tag: funding

The Current State Of The Hotel Industry Isn’t ‘Sustainable’ Without Government Funding, CEO Says

Topline

The American hotel industry could be on the brink of collapse with as much as two-thirds of the nation’s hotels set to shutter in six months without financial help from the government and millions of industry workers laid off, a situation CEO of Best Western Hotels David Kong told CNBC on Monday was “not sustainable.”

Key Facts

Hotels have been the victim of a devastating one-two punch from the coronavirus pandemic, with forced closures leading to massive layoffs, and a sharp decline in bookings with travelers afraid checking in might mean contracting the virus.

“It’s really hard to say when a recovery is going to be. This situation we are in now, it’s not sustainable. It’s really bad,” Kong, who recently spoke with both the White House and Congressional Democrats about stimulus funding, told CNBC.

Kong noted the severity of the industry’s cash flow problem, saying “you can only do so much with eliminating expenses and cutting people, you still need revenue,” which is difficult with less people willing or able to travel and hotels slashing prices in a bid to fill rooms.

Without government help, over 38,000 of the nation’s almost 58,000 hotels could be forced to shut down in six months, according to a recent report by the American Hotel and Lodging Association.

If Congress doesn’t extend PPP loans or expand Main street loans, the AHLA estimates over 3,700,000 jobs related to the hotel industry could be lost, according to the report.

Key Background

The battle on Capitol Hill and in the White House for a new coronavirus stimulus package has been long, complicated, and as the days and months grow longer since the CARES Act was passed, baffling. Republicans and Democrats can’t find common ground, and it seems almost daily President Donald Trump is alternately pulling the plug on stimulus talks or advocating for a bigger and bigger package. The airline industry cadged $32 billion in payroll support in the CARES Act and is pushing hard for a reup, but other parts of the travel industry like hotels haven’t been able to get support on Capitol Hill. House Majority Leader Nancy Pelosi (D-Calif.) has said she won’t support a stimulus plan that’s less than $2.2 trillion, and Republicans hit a ceiling at around $1 trillion, though their latest plan included only $300 billion in new spending. Meanwhile, Trump, who blew up stimulus talks between Pelosi and Treasury Secretary Steve Mnuchin shortly after being released from Walter Reed hospital, on Friday claimed to want a greater stimulus package than both Republicans and Democrats.

Big Number

33%. That’s how many Americans say they’ve traveled for pleasure since March, according to the AHLA, and only 38% say they may travel by the end of the year.

Key Quote

“It’s time for Congress to put politics aside and prioritize American workers in the hardest-hit industries. Hotels are cornerstones of the communities they serve, building strong local economies and supporting

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Royal Society report urges mental-health funding hikes

A new Royal Society of Canada report urges governments to prioritize keeping schools open and be prepared with more mental-health support for Canadians if a spike in COVID-19 cases leads to another lockdown.

The wide-ranging report also calls for a larger chunk of health dollars to go toward mental-health care, as well as increased public funding for psychotherapy, with a particular focus on virtual care to improve access in more remote parts of the country.

To prepare for the next pandemic or national emergency, the report recommends that Ottawa create a national task force to study how to prevent mental illness and boost resilience.

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“COVID-19 brings with it a triple threat,” write the authors, a national task force of health care and academic experts. The social and economic consequences of the pandemic have meant that just as the population’s need for help with mental illness and substance abuse has grown, laid-off workers have lost the employee benefits that help cover those treatments. Access to public care was also reduced when hospitals were forced to shut down services.

The negative consequences of the pandemic have fallen heaviest on poor and marginalized Canadians, the authors point out. They make the case for better data collection to track how the system is doing, especially in delivering care to those groups, and for more mental health care programs designed and led by Indigenous Canadians.

“COVID-19 is not just an illness,” the reports states. “It also intensifies social ills that have long created health inequities.”

The report echoes recommendations that mental-health experts made even before the pandemic led to a spike in self-reported anxiety and depression among Canadians.

“We hope it adds to the chorus,” said the task-force chair, psychologist Patrick McGrath, a researcher at Dalhousie University. “Mental health plays an essential role in our response to the pandemic now and going forward.”

Mental-health advocates have long pushed for more coverage for talk therapy, so that Canadians without insurance through their employer do not have to pay out of pocket for an evidence-based treatment that other countries, such as Britain, have made standard first-step care for the most common mental illnesses – depression and anxiety.

Before COVID-19 shut down much of the country, waits-list to see a psychiatrist or to receive specialized treatment in the public system, especially for children and youth, could extend well beyond a year. Families struggled to get assistance in a confusing, fragmented system. Psychiatrists and family doctors often spoke about the difficulty of finding help for their patients, and a lack of standards in areas such as the treatment for youth who visit emergency departments after a suicide attempt or incident of self harm. As opposed to a stepped care model that delivers the right level of help based on need, the current system and its inefficiencies have meant that some people receive too much care, while those most in need often received too little, critics said.

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The Royal Society report highlights

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‘Self-eating rocket’ tech snags funding from UK government

The U.K. government aims to spur the development of rockets that gobble themselves up on the way to orbit.



a field of grass: Artist's illustration of the planned spaceport in Sutherland, Scotland, that will be used for vertically launched rockets. Some of those rockets may consume themselves as they fly, if development of a "self-eating" rocket engine goes well.


© Provided by Space
Artist’s illustration of the planned spaceport in Sutherland, Scotland, that will be used for vertically launched rockets. Some of those rockets may consume themselves as they fly, if development of a “self-eating” rocket engine goes well.

The Ministry of Defence’s Defence & Security Accelerator (DASA) has pledged £90,000 — about $117,000 USD at current exchange rates — for the continued development of the “autophage” rocket engine, which is being built by researchers at the University of Glasgow in Scotland.

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The tech is a great fit for small rockets “because scaling down a rocket reduces the mass of the propellant more than it reduces the mass of all the other components, including the tanks that hold the propellant itself,” Patrick Harkness, of the University of Glasgow’s James Watt School of Engineering, said in a statement.

“The autophage concept is simple: burn the tanks as well,” Harkess said. “That saves the excess mass, and it means that we can miniaturize the vehicle without hitting this wall.”

Related: The history of rockets

The Glasgow team has already test-fired a version of the autophage engine that burns all-solid propellant. The DASA money will help fund research into the use of a more energy-rich hybrid propellant, team members said.

“The body of a hybrid autophage rocket will be a tube of solid fuel, containing a liquid oxidizer,” Harkess said. “The entire assembly will be consumed, from the bottom up, by an engine which will vaporize the fuel tube, add the oxidizer and burn the mixture to create thrust. The engine will have consumed the entire body of the rocket by the time the assembly reaches orbit, and only the payload will be left. It is a much more mass-efficient process.”

The hybrid engine will be test-fired next year, at Kingston University in London, if all goes according to plan.

Over the longer term, the new engine tech could help the United Kingdom claim a sizeable chunk of the growing small-satellite launch market, team members said in the statement. Two of the biggest players in this space at the moment are American companies — Rocket Lab, which provides dedicated rides to orbit with its Electron booster, and SpaceX, which increasingly hosts small payloads as “rideshares” on its workhorse Falcon 9 rocket.

“The U.K. has a strategic aim to secure 10% of the worldwide space industry by 2030, and we believe that our autophage engine is uniquely well-placed to help deliver on that ambition,” Harkness said. “We’re looking forward to continuing our work to develop the engine and help the U.K. find its place in space.”

Mike Wall is the author of “Out There” (Grand Central Publishing, 2018; illustrated by Karl Tate), a book about the search for alien life. Follow him on Twitter @michaeldwall. Follow us on Twitter @Spacedotcom or Facebook. 

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Morrison government to spend $1.6bn funding at-home care for older Australians

The Morrison government says it will fund 23,000 new packages for older Australians waiting to receive at home care, at a cost of $1.6bn.



a person sitting on a bed: Photograph: Yui Mok/PA


© Provided by The Guardian
Photograph: Yui Mok/PA

Tuesday’s budget increases the number of approved home care packages available over the next four years in response to both the aged care royal commission and the Covid-19 pandemic.

The interim report of the royal commission found the government needed to act urgently to reduce waiting times for older Australians seeking in-home support.

For the past two years, more than 100,000 Australians have been on wait lists for approved home care packages, with tens of thousands entering residential care prematurely as a result.

Related: How much will I get from the 2020 federal budget tax cuts? More if you earn over $100,000

The government has been under pressure over its aged care response during the pandemic. There have been more than 670 deaths nationally in aged care facilities, more than 640 of those in Victoria, and older Australians have been left to languish in soiled beds and clothes without proper food and hydration.



The Australian government has announced additional funding for aged care after criticism of its response to the coronavirus pandemic.


© Photograph: Yui Mok/PA
The Australian government has announced additional funding for aged care after criticism of its response to the coronavirus pandemic.

The health minister, Greg Hunt, said on Tuesday there would be an extra $81m for additional staff and training, on top of $101.2m the government announced for this purpose in March.

The health budget comprises $467bn in overall spending over four years, $16.5bn of that makes up the emergency response to the pandemic.

The government says it will increase funding for hospitals by $33.6bn over the new five-year national health reform agreement and provide $5.7bn for mental health, including already announced funding to double the number if Medicare-funded psychology sessions from 10 to 20.

Related: Australian treasurer Josh Frydenberg’s 2020 budget speech – in full

Hunt said the budget would fund the government’s ongoing response to the pandemic and “helps chart the road out”, with aged care “a particular focus”.

Total funding in aged care will be $23.9bn over the forward estimates – an increase of $2.2bn Hunt said – including the $1.6bn for home care packages.

The treasurer, Josh Frydenberg, said on Tuesday night that aged care was “one of the greatest challenges we face in delivering essential services to Australians”.

He said additional responses and funding would be informed by the final report from the royal commission.

“The government will provide a comprehensive response to the final recommendations following receipt of that report,” he said. “This will involve significant additional investment.”

Tuesday’s budget includes $2.3bn in announced funding for investment in Covid-19 treatments and vaccines and funding for the listing of new drugs on the pharmaceutical benefits scheme, including Lynparza for women diagnosed with ovarian cancer.

Related: Less Thatcher, more vanilla slice: Frydenberg’s 2020 Australian budget packs a sugar hit | Amy Remeikis

The government will provide $750m in funding for Covid-19 testing, $171m for the extended operation of up

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Morrison government to spend $1.6bn funding at-home care for older Australians | Australian budget 2020

The Morrison government says it will fund 23,000 new packages for older Australians waiting to receive at home care, at a cost of $1.6bn.

Tuesday’s budget increases the number of approved home care packages available over the next four years in response to both the aged care royal commission and the Covid-19 pandemic.

The interim report of the royal commission found the government needed to act urgently to reduce waiting times for older Australians seeking in-home support.

For the past two years, more than 100,000 Australians have been on wait lists for approved home care packages, with tens of thousands entering residential care prematurely as a result.

The government has been under pressure over its aged care response during the pandemic. There have been more than 670 deaths nationally in aged care facilities, more than 640 of those in Victoria, and older Australians have been left to languish in soiled beds and clothes without proper food and hydration.

The health minister, Greg Hunt, said on Tuesday there would be an extra $81m for additional staff and training, on top of $101.2m the government announced for this purpose in March.

The health budget comprises $467bn in overall spending over four years, $16.5bn of that makes up the emergency response to the pandemic.

The government says it will increase funding for hospitals by $33.6bn over the new five-year national health reform agreement and provide $5.7bn for mental health, including already announced funding to double the number if Medicare-funded psychology sessions from 10 to 20.

Hunt said the budget would fund the government’s ongoing response to the pandemic and “helps chart the road out”, with aged care “a particular focus”.

Total funding in aged care will be $23.9bn over the forward estimates – an increase of $2.2bn Hunt said – including the $1.6bn for home care packages.

The treasurer, Josh Frydenberg, said on Tuesday night that aged care was “one of the greatest challenges we face in delivering essential services to Australians”.

He said additional responses and funding would be informed by the final report from the royal commission.

“The government will provide a comprehensive response to the final recommendations following receipt of that report,” he said. “This will involve significant additional investment.”

Tuesday’s budget includes $2.3bn in announced funding for investment in Covid-19 treatments and vaccines and funding for the listing of new drugs on the pharmaceutical benefits scheme, including Lynparza for women diagnosed with ovarian cancer.

The government will provide $750m in funding for Covid-19 testing, $171m for the extended operation of up to 150 dedicated respiratory clinics to manage and diagnose Covid-19 cases, and $112m for the continuation of Medicare rebated telehealth services for GP, allied health and specialist consultations.

The government said it would provide a further $3.9bn for the NDIS.

The government said it would also provide a “targeted capital gains tax exemption” for granny flats – where there is a written agreement – that will apply to older Australians and Australians with a disability.

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Reliant Funding Partners with American Cancer Society to Support Breast Cancer Awareness

SAN DIEGO, Oct. 1, 2020 /PRNewswire/ — Reliant Funding, a leading small business finance provider, announces its most recent dual benefit program.  Combining access to funding for American Small Businesses and charitable giving.  This program will raise funds for the American Cancer Society, Making Strides Against Breast Cancer. For every new small business client that receives funding, the company will donate $100 to the American Cancer Society to combat breast cancer.

Reliant Funding 2018 (PRNewsfoto/Reliant Funding)

“We work to do everything possible to support both small businesses and organizations dedicated to bettering our public health, now more than ever this is of utmost importance,” said CEO of Reliant Funding, Adam Stettner. “This initiative will provide funding for SMBs in need of capital and aid the ACS in their research and assistance for patients in need of care.”

Reliant Funding is dedicated to providing short-term funding to SMBs in a variety of industries from construction, transportation and restaurants to retail and healthcare. In addition to establishing funding through its own programs, Reliant has helped American Small Business owners navigate government sponsored programs including Coronavirus Aid, Relief and Economic Security Act (‘CARES Act’) via access to Payroll Protection Program and others. All with the goal of providing access to stabilizing and growing businesses nationwide.

Every October Reliant Funding partners with the American Cancer Society by having its team participate in a breast cancer walk.  This year, that walk will be a 3k virtual walk with bracelets, ribbons and custom t-shirts, all to raise awareness and money for this great cause.  In addition to donating on behalf of funded clients, Reliant Funding will match donations raised by employees.  More than eighty percent of Reliant Funding employees take part in the company’s charitable efforts throughout the year.

The American Cancer Society, Making Strides Against Breast Cancer is a movement to unite and fight back to end breast cancer. The impact of COVID-19 has reduced the ability to fund cancer research by fifty percent in 2020——making fundraising efforts more important than ever.

For more information on Reliant Funding, please click here.

Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. For more information, please visit www.reliantfunding.com.

CONTACT: Kate Kelly, [email protected], (858) 848-9706 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/reliant-funding-partners-with-american-cancer-society-to-support-breast-cancer-awareness-301144131.html

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Trump signs temporary government funding bill, averting shutdown

President Trump has signed a bill to fund the government through Dec. 11, averting the possibility of a government shutdown when the new fiscal year starts Thursday.

Trump signed the bill, which was approved by sweeping bipartisan agreement Wednesday, into law early Thursday morning shortly after returning from campaigning in Minnesota.

The temporary extension will set the stage for a lame-duck session of Congress later this year, where the agenda will be largely determined by the outcome of the presidential election.

The measure would keep the government running through Dec. 11 and passed by a 84-10 vote. The House passed the bill last week.

The stopgap spending bill is required because the GOP-controlled Senate has not acted on any of the 12 annual spending bills that fund the 30% of the government’s budget that is passed by Congress each year. If Democratic nominee Joe Biden wins the White House in November, it’s likely that another stopgap measure would fund the government into next year and that the next administration and Congress would deal with the leftover business.

The measure is the bare minimum accomplishment for Capitol Hill’s powerful Appropriations committees, who pride themselves on their deal-making abilities despite gridlock in other corners of Congress.

The legislation — called a continuing resolution, or CR, in Washington-speak — would keep every federal agency running at current funding levels through Dec. 11, which will keep the government afloat past an election that could reshuffle Washington’s balance of power.

The measure also extends many programs whose funding or authorizations lapse on Sept. 30, including the federal flood insurance program, highway and transit programs, and a long set of extensions of various health programs, such as a provision to prevent Medicaid cuts to hospitals that serve many poor people.

It also finances the possible transition to a new administration if Biden wins the White House and would stave off an unwelcome COVID-caused increase in Medicare Part B premiums for outpatient doctor visits.

Farm interests won language that would permit Trump’s farm bailout to continue without fear of interruption. In exchange, House Democrats won $8 billion in food aid for the poor.

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Trump signs temporary government funding bill

WASHINGTON (AP) — President Donald Trump has signed a bill to fund the government through Dec. 11, averting the possibility of a government shutdown when the new fiscal year starts Thursday.

Trump signed the bill, which was approved by sweeping bipartisan agreement Wednesday, into law early Thursday morning shortly after returning from campaigning in Minnesota.

The temporary extension will set the stage for a lame-duck session of Congress later this year, where the agenda will be largely determined by the outcome of the presidential election.

The measure would keep the government running through Dec. 11 and passed by a 84-10 vote. The House passed the bill last week.


The stopgap spending bill is required because the GOP-controlled Senate has not acted on any of the 12 annual spending bills that fund the 30% of the government’s budget that is passed by Congress each year. If Democratic nominee Joe Biden wins the White House in November, it’s likely that another stopgap measure would fund the government into next year and that the next administration and Congress would deal with the leftover business.

The measure is the bare minimum accomplishment for Capitol Hill’s powerful Appropriations committees, who pride themselves on their deal-making abilities despite gridlock in other corners of Congress.

The legislation — called a continuing resolution, or CR, in Washington-speak — would keep every federal agency running at current funding levels through Dec. 11, which will keep the government afloat past an election that could reshuffle Washington’s balance of power.

The measure also extends many programs whose funding or authorizations lapse on Sept. 30, including the federal flood insurance program, highway and transit programs, and a long set of extensions of various health programs, such as a provision to prevent Medicaid cuts to hospitals that serve many poor people.

It also finances the possible transition to a new administration if Biden wins the White House and would stave off an unwelcome COVID-caused increase in Medicare Part B premiums for outpatient doctor visits.

Farm interests won language that would permit Trump’s farm bailout to continue without fear of interruption. In exchange, House Democrats won $8 billion in food aid for the poor.

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Trump Signs Stopgap Funding Bill to Avert a Government Shutdown

(Bloomberg) — President Donald Trump signed stopgap spending legislation early Thursday to avert a government shutdown weeks before the presidential election, the White House said.



Donald Trump wearing a suit and tie


© Photographer: Tasos Katopodis/UPI/Bloomberg
Donald Trump

The spending authority of the U.S. had lapsed at midnight. The White House announced that he had signed the bill shortly after he returned from a campaign trip to Minnesota.

The bill will keep the government operating through Dec. 11 at current spending levels. The Senate on Wednesday approved the bill, which easily passed the House last week.

Congressional Democrats and Republicans, along with White House officials, last week removed the final stumbling block, by agreeing to provide aid to farmers and more food assistance for low-income families.

The bill provides as much as $30 billion for the Department of Agriculture’s Commodity Credit Corp., which the administration has used to send virus relief payments to farmers. Democrats got almost $8 billion for a pandemic program to feed children who normally receive school lunches.

With the temporary spending bill finished, lawmakers will try to complete work on the 12 annual appropriations bills for fiscal 2021 in the post-election lame-duck session in November and December. The Senate hasn’t drafted any of the bills so far, and there’s likely a battle ahead over paying for Trump’s wall on the U.S.-Mexico border and replacing military funds he redirected to pay for border security last year.

It was an impasse over the border wall that led to a 35-day government shutdown — the longest ever — beginning in December 2018.

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Senate passes stopgap funding measure to avoid government shutdown

The Senate passed a resolution with broad bipartisan support Wednesday to fund the government through Dec. 11, averting the possibility of a shutdown before the new fiscal year begins at midnight.



a man wearing a suit and tie


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Trump, who was holding a re-election rally in Minnesota, was expected to sign the measure when he returned to the White House. The stopgap measure passed by an 84-10 vote in the Republican-controlled Senate. The Democratic-controlled House passed the legislation, known as a continuing resolution, last week on a 359-57 vote.

The legislation includes a bailout for farmers — which Trump and Republicans fought to include — in exchange for boosts in funding for nutrition benefits for poor families requested by Democrats. It also continues to fund various parts of the federal government.

Farming and food benefits for poor families appeared to be the only coronavirus-related items included in the resolution as top Democrats, the White House and Republicans continue to haggle over continued Covid-19 relief for families.

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House Speaker Nancy Pelosi, D-Calif., met Wednesday with Treasury Secretary Steven Mnuchin to again discuss the next round of coronavirus aid. The House plans to vote Thursday on an updated aid package that includes compromises Democrats have made, she said.

“We will be proceeding with our vote … on the updated Heroes Act in order to formalize our proffer to Republicans in the negotiations to address the health and economic catastrophe in our country,” she said in a statement.

Mnuchin said Wednesday on Fox Business that the updated $2.2 trillion, which was slimmed down from the $3.4 trillion bill the House passed in May, is something “we’re not going to do.”

“The good news is the speaker has come down from her $3.4 trillion deal. If there’s a fair compromise, we’re prepared to do it,” he said.

The interim spending bill also sets up a potential political fight toward the end of the year when it expires and lawmakers have to pass another temporary spending resolution or an annual spending bill just before a new Congress is sworn in, along with, potentially, a new administration.

House Majority Leader Steny Hoyer, D-Md., criticized the process last week, saying that the resolution is only temporary and that both chambers need to work on passing traditional spending bills.

“I’m hopeful that everyone will put their heads together to get the appropriation process done, and we’ll probably do it in an omnibus, not single appropriation bills, which is not a good way to do it, either,” he said.

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