800 Virginia Businesses Back Tourism, Hospitality Relief in Budget

More than 800 businesses and business associations are jointly urging the Virginia General Assembly to approve a budget item for $291 million in relief to the travel and hospitality industries, which was proposed by Gov. Ralph Northam.

Northam’s proposal would appropriate funds from the federally passed American Rescue Plan to help these industries bounce back from losses caused by the COVID-19 pandemic and subsequent economic restrictions. The General Assembly is scheduled to meet on Aug. 2 to consider the budget proposal.

The businesses and business associations signed a joint letter showing their support. It includes the Virginia Chamber of Commerce and the Virginia Restaurant Lodging and Travel Association.

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Disney Posts 4Q Loss as Parks Business, Costs Drag Results

Walt Disney Co. reported fiscal fourth-quarter loss on Thursday thanks largely to changes related to the COVID-19 pandemic. Its earnings were dragged by costs from restructuring related to its streaming services and lost revenue from its California theme parks, which remain closed amid surging coronavirus cases in the U.S.

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