Democrats urge the U.S. to provide at least $5 billion in loans to the bus industry
Two senior U.S. House Democrats on Friday asked the U.S. Treasury and Federal Reserve to direct at least $5 billion in loans to struggle intercity bus companies because of the coronavirus pandemic.
House Ways and Means Committee Chairman Richard Neal and Transportation Committee Chairman Peter DeFazio said 80% to 95% of motorcoach trips have been canceled or are not being booked, and scheduled service operations are down 80% to 90% and over 3,000 companies are affected. “If bus companies go out of business, hundreds of thousands of travelers who rely on buses to get to their jobs and reach vital services, intermodal connections, and educational facilities, especially in rural America, risk losing what may be their only means of transportation,” they wrote. Treasury did not immediately provide a comment.
Peter Pan Bus Lines, which serves 100 communities in the U.S. Northeast, has halted all service through May 15. Greyhound, the largest provider of U.S. intercity bus transportation, has sharply reduced its schedule. It typically carries around 16 million passengers a year. 24 April 2020