Paycheck Protection Program (Executive Calendar); Congressional Record Vol. 166, No. 178
(Senate - October 19, 2020)

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[Page S6318]
From the Congressional Record Online through the Government Publishing Office []

                      Paycheck Protection Program

  Ms. COLLINS. Madam President, shortly, we will be voting on whether 
or not to extend the Paycheck Protection Program, which has been hugely 
successful in helping our small businesses keep their employees.
  In Maine, three out of four small businesses have received $2.3 
billion in forgivable loans. Most important, these loans have helped to 
sustain 250,000 jobs in the State of Maine and 50 million jobs 
  A bipartisan group of us--Senator Rubio, Senator Cardin, Senator 
Shaheen, and I--put this bipartisan program together in March. We added 
funding in April, and we extended it in June until August 8.
  The pandemic, unfortunately, is still forcing shutdowns and 
mitigation measures months later. Many of the small businesses that 
were sustained by their PPP loans are still unable to return to normal 
  Without more assistance, without being eligible for a second PPP 
loan, many of the hardest hit small businesses, including our 
restaurants, our gift shops, our hotels, and our B&Bs, will be forced 
to close their doors, and, worse yet, lay off their workers. That is 
why it is so important that we reach bipartisan agreement quickly to 
provide further assistance to small businesses and nonprofits that have 
been kept alive by their first PPP loan, that have been able to retain 
and pay their employees but now are still struggling to survive due to 
this persistent pandemic.
  The amendment that we are about to vote on would provide 
approximately $258 billion in funding to allow eligibility for a second 
PPP loan for the hardest hit small businesses and nonprofits, while 
also expanding and improving the program in some commonsense ways.
  This is all about keeping Americans employed. This amendment is 
endorsed by the NFIB, the National Restaurant Association, the American 
Hotel and Lodging Association, the International Franchise Association, 
HospitalityMaine, the United Fresh Produce Association, the National 
Fisheries Institute, and the International Foodservice Distributors 
  I urge my colleagues to join us in supporting this important step to 
renew and strengthen the PPP program to save our small businesses and 
their employees' jobs.
  Thank you.
  The PRESIDING OFFICER. The majority leader.