A $9.7 billion measure to pay flood insurance claims is set for a vote in Congress, boosting prospects for relief for the many home and business owners flooded out by Superstorm Sandy.
If the House, as expected, approves the flood insurance proposal today (Jan. 4), the Senate plans to follow with a likely uncontested vote later in the day, The Associated Press reported.
The Federal Emergency Management Agency (FEMA) warns that the National Flood Insurance Program will run out of money next week if Congress doesn’t provide additional borrowing authority to pay out claims. Congress created the FEMA-run program in 1968 because few private insurers cover flood damage.
Northeast lawmakers say the money is urgently needed for storm victims awaiting claim checks from the late October storm, which was one of the worst ever to strike the Northeast, ravaging the coast from North Carolina to Maine, with the most severe flooding occurring in Atlantic City, N.J., New York City and Long Island and along the Connecticut coastline.
New York, New Jersey and Connecticut were the states hardest hit by the storm in terms of damage from high winds, flooding and storm surges. The storm damaged or destroyed more than 72,000 homes and businesses in New Jersey. In New York, 305,000 housing units were damaged or destroyed and more than 265,000 businesses were affected.
Sandy was the most costly natural disaster since Hurricane Katrina in 2005 and was blamed for at least 120 deaths. Northeast lawmakers have complained that it took just 10 days for Congress to approve about $50 billion in aid for Katrina but that it hasn’t provided aid for Sandy relief in more than two months.
More than $2 billion in federal money has been spent so far on relief efforts for 11 states and the District of Columbia struck by the storm. New York, New Jersey, Connecticut, West Virginia, Virginia, Maryland, New Hampshire, Delaware, Rhode Island, Pennsylvania, Massachusetts and the District of Columbia are receiving FEMA aid.