Heroes act?
05-20-2020, 03:20 PM
#1
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Heroes act?
Just read the May 20th email from ALPA Joe DePete. I found this interesting about the bill that just passed in the House:
Case in point is the U.S. House of Representatives' recent passage of the HEROES Act, the next iteration of economic relief legislation. Importantly, the bill contains language preventing CARES Act grant recipients from conducting involuntary furloughs until the exhaustion of the financial assistance they receive through September 30 or later.
So if I'm reading that correctly whatever money Delta received for employee payroll must be depleted before a furlough can occur. I don't know what our payroll currently is but we have a lot of people on unpaid leaves verses what our payroll was the same time period last year.
Case in point is the U.S. House of Representatives' recent passage of the HEROES Act, the next iteration of economic relief legislation. Importantly, the bill contains language preventing CARES Act grant recipients from conducting involuntary furloughs until the exhaustion of the financial assistance they receive through September 30 or later.
So if I'm reading that correctly whatever money Delta received for employee payroll must be depleted before a furlough can occur. I don't know what our payroll currently is but we have a lot of people on unpaid leaves verses what our payroll was the same time period last year.
05-20-2020, 04:06 PM
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Originally Posted by Hank Kingsley
I've heard, not sure, it will allow more tax deductions(state and local taxes). That would make Congress my hero.
05-20-2020, 08:15 PM
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Originally Posted by DALMD88FO
Just read the May 20th email from ALPA Joe DePete. I found this interesting about the bill that just passed in the House:
Case in point is the U.S. House of Representatives' recent passage of the HEROES Act, the next iteration of economic relief legislation. Importantly, the bill contains language preventing CARES Act grant recipients from conducting involuntary furloughs until the exhaustion of the financial assistance they receive through September 30 or later.
So if I'm reading that correctly whatever money Delta received for employee payroll must be depleted before a furlough can occur. I don't know what our payroll currently is but we have a lot of people on unpaid leaves verses what our payroll was the same time period last year.
Case in point is the U.S. House of Representatives' recent passage of the HEROES Act, the next iteration of economic relief legislation. Importantly, the bill contains language preventing CARES Act grant recipients from conducting involuntary furloughs until the exhaustion of the financial assistance they receive through September 30 or later.
So if I'm reading that correctly whatever money Delta received for employee payroll must be depleted before a furlough can occur. I don't know what our payroll currently is but we have a lot of people on unpaid leaves verses what our payroll was the same time period last year.
05-21-2020, 03:12 AM
#7
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Originally Posted by beis77
I suspect this would be very easy for companies to get around. Burning $50M+ per day, management could easily show that they burned through the money, even with the leaves. At the end of the day, it would just come down to a financial shell game; and considering how smart our management is, I’m sure they could easily (and legitimately) show that the grant money was all used up, and be off the hook before Oct 1st.
The National Law Review summarizes it like this:
"In accordance with the CARES Act, all aid recipients must use the payroll support payments exclusively to cover the cost of payroll and benefits."
All the unpaid leaves they keep touting do nothing to bolster any case that their burn rate somehow accelerated payroll and benefit expenditures.
05-21-2020, 04:16 AM
#8
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Originally Posted by TED74
Was the grant money not earmarked specifically for payroll and benefits? They either did or didn't spend it on payroll; that's not so easy to shell game.
Plus, it's not getting past the senate or the President, so it's a moo point.
05-21-2020, 07:31 AM
#9
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Originally Posted by Hank Kingsley
I've heard, not sure, it will allow more tax deductions(state and local taxes). That would make Congress my hero.
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