Avoiding Improper Use Of CARES Act Airport Grants
Like much of the transportation industry during the COVID-19 pandemic, America's airports are experiencing significant losses in revenue Airports Council International predicts that the U.S. airport industry will lose $23 billion as a result of COVID-19.
The "world's busiest airport," Hartsfield-Jackson Atlanta International Airport, reported a revenue decrease of 50%-60% from the exact same time last year, which has been typical across the United States.
Title XII of Division B of the Coronavirus Aid, Relief, and Economic Security, or CARES, Act addresses these significant economic disruptions by providing approximately $10 billion to U.S. airports "to prevent, prepare for, and respond to the impacts of the COVID-19 public health emergency." The funding is somewhat discretionary, with a requirement that it be used for any purpose for which airport revenues may lawfully be used, so long as the use of funds is related to the airport.