Congress awaits Trump estimate on storm costs from Harvey
QUOTE August 28, 2017 / 11:47 PM "WASHINGTON (Reuters) - U.S. lawmakers are expected to pass a large aid package for victims of Hurricane Harvey, but specifics of the plan and its price tag are unclear as Congress awaits a funding request from the Trump administration.
Rain continued to pound Houston and the Gulf Coast on Monday as President Donald Trump said he expected rapid funding from Congress for a costly recovery. He plans to visit Texas on Tuesday to see storm-hit areas.
“We’re dealing with Congress. As you know it’s going to be a very expensive situation,” he told reporters in the White House.
Historic flooding from Harvey, which came ashore in Texas last week as a powerful Category 4 hurricane, has killed at least seven people in Texas and was expected to drive 30,000 from their homes.
Wall Street analysts estimated insured losses of up to $20 billion, making Harvey one of the costliest storms in history for U.S. insurers."
It will be interesting to see if Trump rolls back the Flood Insurance Program as rapidly as he pulls out of funding the EPA and from the Paris Agreement on Climate.
Cheers,
Bart