House Will Vote to Increase Borrowing Authority of FEMA

HurricaneSandyDamage

The new 113th Congress will convene Friday and House members will vote on a bill that would aid storm damaged states.

Under fire from fellow Republicans from Sandy-stricken New York and New Jersey, House Speaker John Boehner, R-Ohio, today agreed to hold two separate votes on storm relief including one vote on Friday to make about $9 billion available to the National Flood Insurance Program (NFIP), which is running out of funds to pay Sandy flood claims.

Boehner promised that a second vote on supplemental disaster aid for states hit by Superstorm Sandy will be held on Jan. 15, the first day of the new 113th Congress.

Friday’s legislation would raise the cap on Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program’s Borrowing Authority.

The measure already passed the Senate and would increase the borrowing authority of the NFIP to help cover claims from Sandy from $20.7 billion to $30.4 billion, effective retroactively to Dec 12, 2012.

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