Biden administration urges Congress to fund disaster relief

investing.com 18/11/2024 - 13:23 PM

Biden Urges Congress for Emergency Disaster Relief Funding

WASHINGTON (Reuters) – President Joe Biden's budget director called on U.S. lawmakers on Monday to quickly pass emergency disaster relief funding in light of damaging storms. The administration plans to send a funding package to Congress in the coming days.

Biden's administration has requested additional disaster aid multiple times since Congress last passed supplemental funding in December 2022. Despite several storms, including Hurricanes Helene and Milton, progress has been slow. Shalanda Young, White House Office of Management and Budget Director, detailed the impact of severe storms across Alaska, Connecticut, Louisiana, New Mexico, Virginia, Pennsylvania, and Illinois in a memo.

Young emphasized the administration’s commitment to working with lawmakers to secure resources for affected communities, stressing that disaster relief is typically a bipartisan effort.

While the specific funding amount was not disclosed, Young referenced past relief efforts: approximately $120 billion post-Harvey, Irma, and Maria in 2017; $90 billion after Hurricane Katrina in 2015; and $50 billion following Hurricane Sandy in 2013.

House Speaker Mike Johnson, who visited North Carolina after Hurricane Helene, expressed Congress’s intent to take bipartisan action to determine an appropriate federal funds amount.

Hurricane Milton, which struck on October 9, caused extensive damage in Florida, with crop and infrastructure losses estimated between $1.5 billion and $2.5 billion. Hurricane Helene impacted the region weeks earlier.

Analysts predict insured losses from Hurricanes Helene and Milton could reach up to $55 billion.




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