ARA seeks $20 billion support for rental sector
By KHL Staff26 March 2020
The American Rental Association (ARA) has asked for US$20 billion in financial aid for the equipment and rental industry to be included in the US government’s COVID-19 financial relief bill. The Association wrote to Capital Hill on Friday last week.
“ARA has been in communication with Capitol Hill as well as the Administration regarding relief efforts for our industry”, said John McClelland, ARA vice president of government affairs and chief economist. ”This letter is one example of how ARA reaches out to policy makers in support of our members.
”Right now, there is an overwhelming need for the federal government to aid all businesses – but, especially small businesses – in the equipment and event rental industry,”
Before the COVID-19 outbreak, the rental industry was projected to exceed $60 billion in revenue in 2020.
Tony Conant, ARA CEO, said; “Like many industries, the equipment and event rental industry is being severely affected. The shelter in place directives and social distancing recommendations have caused virtually every planned event to be cancelled. These wide sweeping conditions have shuttered many event rental operations and most companies have laid off all staff as we wait on recovery measures.
“As states continue to tighten restrictions on business activities, it’s likely that our general tool and construction members will also be negatively impacted. It’s imperative that we take every possible measure to assist members and we’re hopeful to see some relief from our Administration”.