Legislation includes a provision authored by Senator Collins to allow hardest-hit small businesses to receive second forgivable Paycheck Protection Program loan
Washington, D.C. — The U.S. Senate passed COVID-19 emergency relief legislation that will help American families, health care providers, small businesses, employees, and students during the ongoing health and economic crisis.
The framework for the legislation was developed by a bipartisan, bicameral group—led by Senators Susan Collins (R-ME), Joe Manchin (D-WV), and Mark Warner (D-VA)—including Senators Angus King (I-ME), Bill Cassidy (R-LA), Jeanne Shaheen (D-NH), Lisa Murkowski (R-AK), Mitt Romney (R-UT), Maggie Hassan (D-NH), Rob Portman (R-OH), and Dick Durbin (D-IL) and Representatives Gottheimer(D-NJ-5) and Tom Reed (R-NY-23).
“This bipartisan relief legislation is a victory for the American people. Our bipartisan group led the way, working night and day to develop the commonsense plan that was both the foundation and the necessary impetus for this final agreement,” said Senator Collins. “This legislation—along with the distribution of safe and effective vaccines—fuels hope that we are making progress to defeat this virus and that our country is on course to emerge from the pandemic stronger than ever.”
“I am particularly proud that this legislation provides an extension of the Paycheck Protection Program I co-authored, which has saved millions of jobs in this country, including 250,000 jobs in Maine alone. This will allow the hardest-hit small businesses to receive a second forgivable loan to help them stay afloat and continue paying their employees,” Senator Collins continued.
This is the sixth COVID-19 relief bill Congress has passed this year, bringing the federal government’s total response to the pandemic to approximately $4 trillion. To date, Maine has received more than $8 billion in federal funding to protect Mainers’ health and jobs.
The Emergency Coronavirus Relief Act of 2020 will provide $900 billion in immediate relief. Highlights of the bill include: