83% of Maine Small Businesses Have Not Received Assistance from PPP
Changes to the PPP Proposed by Representative Golden Would Close Loopholes and Fix Pitfalls in the Program Pushed by Senator Susan Collins that Benefit Corporate Interests at the Expense of Maine’s Small Businesses
Today, Maine Representative Jared Golden announced that he has sent letters to leaders in the House and Senate requesting changes to the Paycheck Protection Program (PPP). In its current form, the botched PPP, co-sponsored by Maine Senator Susan Collins’, has failed to provide aid to Maine small business owners as Senator Collins promised, instead proving to be a taxpayer-funded giveaway for corporate interests.
Willy Ritch, executive director of 16 Counties Coalition, issued this statement in response:
“Jared Golden is the kind of leader Mainers need, and deserve, during this crisis — and Maine small business owners are lucky to have him in their corner. The PPP that Susan Collins claims credit for is doing more for the big banks and her corporate donors than real small businesses. But Congressman Golden has listened to these businesses; he’s heard about the problems they have with PPP and he’s fighting to make the program work for them.”
The changes proposed by Representative Golden would close loopholes written by corporate lobbyists included in the bill with the blessing of Senator Collins and Senate Majority Leader Mitch McConnell to benefit their corporate donors, and fix provisions that have proven prohibitive for Maine small business owners.
Approximately 83 percent of Maine small businesses have not received assistance from the PPP. And Maine small business owners who have been able to secure loans are now concerned that poor guidance and restrictions on loan forgiveness included in the fine print of the PPP will saddle their already struggling businesses with additional debt and expenses.
As The Economy Loses 20.5 Million Jobs And Unemployment Hits 14.7%, Senator Collins And Republicans Prioritize Corporate Interests Over Relief For Mainers In Need
Coronavirus Stimulus Measures Pushed by Senator Susan Collins are a Boon for Big Corporations While Laid-Off Mainers and Small Business Owners Struggle to Receive Assistance
83% of Maine Small Businesses Have Not Received Assistance from PPP
Today, the US Bureau of Labors Statistics released its monthly jobs report for April, which represents the first full month since stay-at-home orders were issued due to the coronavirus pandemic. According to the report, the economy lost 20.5 million jobs during the past month, bringing the national unemployment rate to 14.7 percent, and erasing nearly a decade of job growth. In Maine, approximately 125,000 workers have filed unemployment claims since March 15 when the economic shutdown due to coronavirus began.
The economic devastation wrought by the coronavirus pandemic has surpassed that of the Great Depression — and far exceeded that of the 2009 recession — but Senator Susan Collins and her Republican colleagues have failed to deliver relief for everyday Mainers and the small businesses that comprise the backbone of Maine’s economy.
“To get through this crisis, Mainers need a leader who will stand up for them and deliver the help they need. But instead of making sure unemployed Mainers have access to benefits and that assistance for small business owners is really going to small businesses in need, Susan Collins is working to deliver taxpayer-funded giveaways for her corporate donors,” said Willy Ritch, executive director of 16 Counties Coalition. “We need Susan Collins to protect Mainers, not corporate profits.”
Unemployed Mainers have had to wait weeks to receive benefits due to a lack of clear guidance from the federal government. And the botched Paycheck Protection Program (PPP) has failed to provide aid to Maine small business owners as Senator Collins promised, instead proving to be a taxpayer-funded giveaway for corporate interests. And the lack of oversight written into the bill pushed by Senator Collins is leaving the program vulnerable to fraud.
Approximately 83 percent of Maine small businesses have not received assistance from the PPP. And Maine small business owners who have been able to secure loans are now concerned that poor guidance and restrictions on loan forgiveness included in the fine print of the PPP will saddle their already struggling businesses with additional debt and expenses.
About the 16 Counties Coalition The 16 Counties Coalition is a year-long grassroots advocacy campaign aimed at amplifying the voices of families and working Mainers and encouraging Senator Susan Collins to vote in favor of the people she was elected to represent and defend. The campaign will mobilize members through small- and large-scale events, through digital action, and paid television, radio, and digital ads.
