President Obama proposed a $60.4 Billion dollar emergency spending bill to fund Hurricane Sandy relief efforts. That’s quite a pretty penny but the White House considers it an investment, I’m sure they can’t afford not to fix the damage. Areas ravaged by the storm in New Jersey, New York, and Connecticut estimated $82 Billion dollars worth of damage so Congress would basically be picking up most of the tab. Hit the jump for more.
The plan would help homeowners and small businesses, though larger companies would not be covered and the federal government also expects the states to pay %10. Any thing already covered by insurance would not be part of the plan, but it will also help to pay for repairing subway and other transit systems, and reimbursing governments for police and firefighters and other public services. The plan will go to Congress where the politicians will duke it out. New York area Politicians were hoping for more, but they welcome the sum and will fight hard to get the bill to pass, though it really looks rough because it couldn’t have come at a worse time with as the fiscal cliff approaches. The White House and Republicans will duke it out once again we shall see who comes out on top.