Texas U.S. Senator John Cornyn is partnering with Josh Abbott to save another part of the economy: music venues.
Abbott, who is from the Lubbock area, is calling for congress to approve Cornyn's Save Our Stages act. It would make grants available for independent, live music venues that have been closed by the pandemic.
It would allow for six months of financial support to keep them afloat. Abbott says this bill would be a much-needed bipartisan win.
"The ability to produce that music in a live setting is the lifeline for musicians these days," Abbott said. "CD sales and album sales and all that are stories of long ago, they don't really occur anymore. The world has shifted to streaming -- it has its advantages, I'm not here to talk about that. What I mean is it's shifted the burden of carrying your company financially to touring. It's more important now than it's ever been."
Senator Cornyn says the act would make about $10 billion available for the venues. Much like the Paycheck Protection Program, these would be loans that could convert to grants.
It is a bipartisan effort. Senator Amy Klobuchar (D-MN) is also on-board. More information on the bill here.