In anticipation of passage of the CARES Act, which provides $2 trillion in aid to individuals and businesses impacted by the coronavirus, ASCAP has prepared an FAQ for music creators, What ASCAP Members Should Know About the Government Economic Stimulus & Relief Response to Coronavirus. The FAQ is available at www.ascap.com/covid19relieffaq and will be featured on Music Unites Us, ASCAP’s coronavirus resource site: www.ascap.com/musicunitesus.
Statement from Paul Williams, ASCAP President and Chairman on Senate passage of the CARES Act (3/26/20):
“ASCAP applauds the Senate for unanimously passing significant relief that aids the creative community and millions of other Americans during this difficult and uncertain time. Songwriters are some of America’s most-treasured small business owners, and it’s imperative that we continue to support and assist independent contractors and self-employed musicians whose lives and income have been upended by this pandemic. We look forward to this bill passing the House and being signed by the President. We are all in this together, and ASCAP will continue to do everything in our power to ensure that music creators can weather this storm.”
The FAQ is a high-level summary with questions such as What is the government doing to protect and aid individuals and small businesses in response to the coronavirus pandemic? And: What does this new package mean for me as an individual? Publishers and songwriters are urged to seek advice from their accountant or tax professional to learn how these packages and programs apply to them. The FAQ will be updated as the situation develops and more information about government assistance is available.