Colorado U.S. Senator Michael Bennet has co-sponsored U.S. Senator Tammy Duckworth’s (D-In poor health.) bipartisan Fitness center Mitigation and Survival (GYMs) Act to offer much-needed help for gyms, health services, and studios that shuttered operations to guard public well being throughout the lethal Coronavirus Illness 2019 (COVID-19) pandemic, however as a consequence, have struggled to remain in enterprise. The bipartisan GYMS Act would set up a $30 billion grant program by means of the Small Enterprise Administration (SBA), much like the packages already in existence for eating places and stay occasion venues.
“Gyms and health facilities had been among the many companies hardest-hit by COVID-19 they usually want our help,” mentioned Bennet. “By the bipartisan GYMs Act, we will be sure that these services have entry to the versatile help they should get again on their ft. I sit up for working with my colleagues to get this achieved.”
Whereas 2020 was troublesome for a lot of companies… gyms, health facilities, and studios had been significantly hard-hit. Business-wide, gyms noticed a 58% decline from 2019 by means of the top of 2020. As of December 2020, 17% of health facilities had completely closed and 1.4 million jobs – or 44% of the trade – have been misplaced throughout the pandemic.
The bipartisan GYMs Act would offer help to small and midsize health services.
Particularly, it could:
Authorize a complete of $30 billion for grants to eligible entities, which would come with health services that both present instruction for bodily train and/or provide house for particular person train use.
Present grants of as much as $20 million for many companies, with the hardest-hit companies being eligible for grants of as much as $25 million.
Permit a fitness center to make use of grant funds for payroll prices, lease, utilities, mortgage curiosity, employee safety expenditures, curiosity on debt accrued earlier than February 15, 2020, and different bills.
The textual content of the invoice is on the market right here.
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