Apr 14 2020
WASHINGTON—U.S. Senators John Boozman and Tom Cotton—along with Congressmen Rick Crawford, French Hill, Steve Womack and Bruce Westerman—applauded the Federal Aviation Administration (FAA) for awarding $51 million in grants to Arkansas airports affected by the prevention of, preparation for and response to the coronavirus pandemic.
“These much-needed funds will help Arkansas airports continue operations, as well as support their employees and the businesses that rely on air transportation. These grants will ensure the viability of our airports once we’ve beaten the coronavirus,” the delegation said.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act—which recently became law with the support of the Arkansas delegation—includes $10 billion in economic relief funds for airports nationwide.
The CARES Act increased funding for the Airport Improvement Program (AIP) and eliminates the need for grant recipients to contribute a matching percentage of project costs. It also creates a new funding stream that allots money based on formulas that include number of annual boardings and the amount of debt and money in reserve for each airport.