(AP) President Joe Biden signed off on an extension of the Paycheck Protection Program that was championed by Republican Sen. Susan Collins of Maine.
Biden signed the PPP Extension Act of 2021 on Tuesday. Collins led the legislation along with Democratic Sens. Ben Cardin of Maryland and Jeanne Shaheen of New Hampshire. The bill extends the program deadline to May 31.
Collins said the program has provided more than $3 billion in loans for Maine businesses.
“The PPP has been an enormous success, sustaining millions of small businesses and tens of millions of American jobs,” she said.
