President Barack Obama is looking to ask Congress for approximately $50 billion in relief funding to help rebuild areas affected by Hurricane Sandy, reported The New York Times on Wednesday.
The spending request will be sent to Congress, possibly asking for between $45 billion and $55 billion, the Times reported, citing Congressional and White House officials familiar with the matter.
A White House official told Reuters, “The administration is working closely with our partners in the states and in Congress, and is in the process of developing a request for a supplemental, but that process has not been completed.”
At the same time, the states of New York, New Jersey, and Connecticut are asking for a total of $82 billion in relief, the news agency reported.
Housing and Urban Development Secretary Shaun Donovan said that the request might go in as soon as this week. The spending would include measures to build infrastructure to deal with future storms.
“For about every dollar that we invest in mitigation, we get $4 back in avoided costs over time,” he told a Senate subcommittee, according to Reuters.
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