AIR Act of 2020

The AIR Act of 2020 (HR7800) was referred to the Subcommittee on Aviation on July 28, 2020. This action signifies the initial step in the legislative process where a bill is assigned to a specialized committee for review and potential amendment. As of its referral date, the bill has not progressed further, meaning it has not been debated, voted on in committee, or brought to the House floor. Consequently, there is no immediate or direct market impact on any companies or sectors. There is no funding mechanism or appropriation associated with this bill at its current stage. Without further legislative action, no specific companies are positioned to receive contracts, grants, or tax credits. The bill's details are not public, but its referral to the Subcommittee on Aviation suggests it pertains to the aviation industry, which includes airlines, aircraft manufacturers, and airport operators. However, without specific provisions, identifying direct beneficiaries or losers is not possible. Historically, bills referred to subcommittees often do not advance further. For example, numerous aviation-related bills are introduced each session and die in committee without ever reaching a vote. Without specific details on the bill's content, drawing parallels to past market reactions is speculative. For instance, the FAA Reauthorization Act of 2018, which provided significant funding and regulatory changes for the aviation sector, led to increased investment in airport infrastructure and air traffic control systems, benefiting companies like Raytheon Technologies ($RTX) and various construction firms. However, HR7800 is not comparable in its current procedural status. Given its early stage and lack of public details, no specific winners or losers can be identified. Companies in the broader aviation sector, such as Delta Air Lines ($DAL), Southwest Airlines ($LUV), Boeing ($BA), and Airbus ($EADSY), are not directly impacted by this procedural referral. The bill's lack of progress since 2020 further diminishes its current relevance. What happens next is that the bill remains in the Subcommittee on Aviation. For it to advance, the subcommittee would need to hold hearings, mark up the bill, and vote to send it to the full House Transportation and Infrastructure Committee. There is no set timeline for these actions, and given the elapsed time since its referral, it is highly unlikely to progress without reintroduction in a subsequent legislative session.