White House to seek $29B disaster aid package
WASHINGTON - The Trump administration is finalizing a $29 billion disaster aid request that combines $16 billion to shore up the government-backed flood insurance program and almost $13 billion in new relief for hurricane victims.
That's the word from a senior administration official and top Capitol Hill aides.
The government-guaranteed flood insurance program is maxing out on a $30 billion line of credit from Treasury. The upcoming proposal would erase $16 billion of that debt to permit the program to pay claims from Hurricanes Harvey, Irma and Maria.
Another $13 billion is being requested for Federal Emergency Management Agency disaster relief operations.
The request is expected on Capitol Hill as early as Wednesday.
The officials required anonymity because the $29 billion request is being finalized and is not yet public.