Senator Collins Calls on House to Quickly Pass $480 Billion Emergency Aid Package to Assist Small Businesses and Employees, Support Hospitals, and Increase Testing

Washington, D.C.—U.S. Senator Susan Collins, a senior member of the Appropriations Committee and a member of the Small Business Task Force, called on the House of Representatives to quickly pass the $480 billion bipartisan agreement that the Senate approved last night as part of Congress’ ongoing response to COVID-19. 

The deal provides $320 billion for the Paycheck Protection Program co-authored by Senator Collins, which includes $60 billion for smaller lenders.  This brings total funding for the PPP to $670 billion so far.  It also provides $60 billion for Economic Injury Disaster loans and grants Senator Collins advocated for, as well as $75 billion for hospitals and providers, and $25 billion for COVID-19 testing efforts.

“I am encouraged that Congress has once again reached a bipartisan agreement to respond to the COVID-19 crisis.  The Senate has done its part by passing this package I helped negotiate that will provide substantial relief for small employers and their employees as well as crucial support for the health of Americans and for our health care system.  The House should now approve this bill without delay.

“Before it ran out of money, the Paycheck Protection Program I co-authored provided $2.24 billion to 16,699 small Maine employers in less than two weeks, supporting an estimated 180,000 Maine jobs.  The need for additional funding continues to be high.  For example, one community bank in Maine has nearly 300 pending applications from self-employed individuals who are requesting an average forgivable loan amount of $26,000.

“By moving expeditiously, Congress can help bolster this vital program that is allowing small employers to survive and continue to give paychecks to their employees.”