Sources: White House to seek $29B disaster aid package

WASHINGTON (AP) — 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.

Categories: Associated Press, News, US, World

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