Top lawmakers and officials say the federal government has plenty of money on hand to pay for recovery efforts in the devastating tornado that struck Oklahoma.
The government has more than $11 billion in its main disaster relief fund. Recovery costs in Moore, Okla., are expected to be a relatively small fraction of that amount. The devastating 2011 tornado that wiped out much of Joplin, Mo., use up about $750 million in federal disaster aid.
White House press secretary Jay Carney and top lawmakers on Capitol Hill all agreed Tuesday that there’s no immediate need for additional disaster aid.
Reforms put in place in 2011 gave the Federal Emergency Management Agency a more predictable stream of disaster aid. FEMA also got additional funding from January’s Superstorm Sandy relief bill.
Was this article valuable?
Here are more articles you may enjoy.
Advocacy Groups Ask FIO to Release Homeowners Insurance Data Collected by NAIC 
AI Focal Point of Cybersecurity Outlook for 2025, Says Experian 
Mississippi High Court Tells USAA to Pay up in Hurricane Katrina Bad-Faith Claim 
New York Considers Making Property Insurers Cover Taxi Claims Losses 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.