The federal government will likely run out of funds to cover disasters during the peak of this year's hurricane season, a government auditor said Tuesday, jeopardizing its ability to pay for emergency shelters, home repairs and long-term rebuilding. I warned them.
The warning came a day after President Joe Biden proposed a modest increase in disaster spending next year at a Congressional hearing. But even if the request were approved, it would likely be too late to prevent the disaster fund from going bankrupt.
The Federal Emergency Management Agency, which runs the disaster fund, faced a similar situation last summer and had to limit spending for five weeks and stop funding 2,400 reconstruction projects.
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