House Of Representatives To Vote On Massive $36.5B Emergency Relief Bill Thursday

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The U.S. House of Representatives is expected on Thursday to approve $36.5 billion in emergency relief for hurricane-hit areas such as Florida, Texas, Puerto Rico and the U.S. Virgin Islands, as well as California, struck by devastating wildfires.
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Included in the bill is $18.7 billion for the Federal Emergency Management Agency’s disaster relief fund. Of that, $4.9 billion is earmarked for loans to local governments to ensure that the cash-strapped U.S. territory of Puerto Rico can keep government programs operating beyond Oct. 31.

 

Other funds in the legislation include $576.5 million to be directed to the federal government’s wildfire control efforts. Some $16 billion would go to the National Flood Insurance Program to help it cover claims after reaching its borrowing limit.

Puerto Rico is burdened with nearly $72 billion in pre-hurricane debt that is being overseen by a federally created oversight board.

 

Velázquez said the funds earmarked for loans to local governments would assist Puerto Rico’s “liquidity crisis” and that steps must be taken to ensure that creditors are unable to access funds meant for disaster relief.

 

Written By: Tommy Lightfoot Garrett
Photographs are Courtesy: Gucci
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