President Obama Signs Hurricane Sandy Relief Bill
(WASHINGTON) -- President Obama signed a bill into law Sunday that allows the National Flood Insurance Program to help meet new claims from damage inflicted by Hurricane Sandy, The Hill reports.
The $9.7 billion bill, H.R. 41, provides a short-term increase in the borrowing authority of the Federal Emergency Management Agency's flood insurance program. FEMA warned that the program was expected to deplete all of its funds by Monday without the authorization, the paper says.
The House and the Senate passed the bill on Friday. The House is slated to vote on a second Sandy recovery bill on Jan. 15, which could provide an additional $51 billion in storm relief efforts, according to The Hill.
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