White House Requests $50 Billion For Sandy Relief
The spending request has yet to be finalized, but the amount is expected to total between $45 billion and $55 billion. New York, New Jersey and Connecticut were seeking a combined $82 billion in federal aid to help clean up and restore areas damaged by the hurricane, in addition to improving infrastructure to combat future storms.
But even a spending request of roughly $50 billion could stir up Washington, as a series of deep spending cuts and tax increases are set to take effect at the end of the year if the president and Congress cannot reach a deal to avert them.
Supporters of the disaster-relief request prefer that the money not be offset through spending cuts elsewhere. The aid would be financed through additional federal debt if not offset.
New York Gov. Andrew Cuomo has asked for a total of $42 billion to fix the city’s subway system and hospitals. Gov. Chris Christie of New Jersey has requested $29.5 billion for school, road and bridge repair, while Gov. Dannel P. Malloy of Connecticut had asked for $3.2 billion.
Read the full story at the New York Times. Follow more Neon Tommy coverage of Sandy here.