April 20, 2020 — When the $350 billion in funding for the Paycheck Protection Program ran out, many Maine fishermen were among those waiting in line. Congressional leaders are working on an agreement to be voted on this week that would reload those funds.
“I’m crossing my fingers that that will occur,” Senator Susan Collins told News 8 Sunday, after a conference call with lead negotiator on the talks, U.S. Treasury Secretary Steve Mnuchin.
Sen. Collins said negotiations on roughly $350 billion in additional funding for the program she co-authored would continue Sunday night, ahead of votes in the Senate on Monday and the House on Tuesday.
“I strongly support adding more funding to the PPP and will keep pushing to make sure the process is fair, clear, and efficient,” Sen. Angus King said in a statement Sunday.
Sen. Collins says she hopes to extend application deadlines in the new agreement beyond the current date of June 30th, because some who were self-employed had to wait.
“The Small Business Administration, which is not used to dealing with people who are self-employed, had them wait an extra week,” Sen. Collins said. “And thus, by the time many of the fishermen or carpenters or plumbers or hair stylists in our state applied, the money was out.”