Democrats urge US to provide at least US$5 billion in loans to bus industry

WASHINGTON: Two senior U.S. House Democrats on Friday asked the U.S. Treasury and Federal Reserve to direct at least US$5 billion in loans to struggling over-the-road bus companies because of the coronavirus pandemic.

House Ways and Means Committee chairman Richard Neal and Transportation Committee chairman Peter DeFazio said between 80 and 95per cent of current motorcoach trips have been canceled or are not being booked and scheduled service operations are down 80-90per cent and over 3,000 companies are affected.

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