White House to seek $29B disaster aid package

5 years 11 months 3 weeks ago Tuesday, October 03 2017 Oct 3, 2017 October 03, 2017 8:57 PM October 03, 2017 in News
Source: Associated Press
By: APNewsNow

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.

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