Senate Adjourns With No Deal On Paycheck Protection Funding Hike
Updated April 9, 2020 at 11:45 a.m. ET.
The U.S. Senate adjourned Thursday without an agreement on a measure to boost funding for loans to small businesses affected by the coronavirus through the Paycheck Protection Program.Republicans in the U.S. Senate, including Sen. Susan Collins of Maine, are advancing a measure to add funding for the Paycheck Protection Program, but some House Democrats say there are other needs that must also be met.
The Republican bill would provide another $250 billion for the small business loan program aimed at keeping workers on the payroll during the pandemic. Collins supports the bill, and says the program will soon commit all $349 billion appropriated last month.
“I don’t want all of those employees of small businesses not to be able to get eight weeks of paychecks because the funding has been depleted.”
U.S. Rep. Jared Golden, a Democrat, says it's true that the loan program needs more funding, but he says hospitals and other medical care providers are short of supplies, including personal protective equipment. He says the legislation should address all crucial needs, not just target small business.
“We have no choice but to act to help our hospitals and our health care system in general,” he says. “Meanwhile we continue to see a shortage of protective equipment for health care workers. I don’t see how they can only be talking about increasing the funding for small business.”
Because the Senate is not in formal session Thursday, the vote can be blocked by a single senator objecting to considering the bill.
Originally published April 8, 2020 at 5:51 p.m. ET.