WASHINGTON — The Trump administration is finalizing a $29 billion disaster aid package that combines $16 billion to shore up the government-backed flood insurance program with almost $13 billion in new relief for hurricane victims.
The huge request is expected to be officially sent to Congress on Wednesday, but its outlines were characterized by officials who demanded anonymity because the $29 billion measure is not yet public.
The request would address two pressing needs. The first is to pump money into the flood insurance program, which is rapidly running out of cash to pay an influx of claims from victims of hurricanes Harvey, Irma, and Maria. At the same time, the Federal Emergency Management Agency continues to spend money for disaster relief operations at a high rate and requires more money.