Harvey adds to the mounting debt of federal disaster aid

Reema Khrais Aug 29, 2017
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Harvey adds to the mounting debt of federal disaster aid

Reema Khrais Aug 29, 2017
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As the devastation continues to mount in Texas, so does the heavy debt owed by the National Flood Insurance Program. The program, which is managed by FEMA, already borrowed nearly $25 billion, most of it to cover claims from Hurricane Katrina and Superstorm Sandy. The program was supposed to effectively manage the cost of flood damage. And now the tab for the growing debt is due to expire next month.

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