The disaster fund likely will run out of money by early spring because of costs from Superstorm Sandy, the head of the Federal Emergency Management Agency (FEMA) said on Tuesday, according to a story in the Chicago Tribune.
According to the story:
FEMA's Disaster Relief Fund has about $4.88 billion but will need to be refilled as part of a supplemental spending bill the White House is readying to cover costs from the October 29 storm, FEMA Director Craig Fugate told Congress.
The Disaster Relief Fund had $7.1 billion at the start of the fiscal year in October. As of November 26, more than $1.93 billion had been earmarked for Sandy relief, Fugate said.
Even before Sandy struck, the fund had been paying for recovery from such disasters as Hurricane Katrina in 2005, Hurricane Irene in 2011 and a tornado in Joplin, Missouri, last year, Fugate told the hearing held on Sandy relief efforts.
To read the full story in the Chicago Tribune, click here.