Law360, New York (December 10, 2012, 5:09 PM ET) -- The Obama administration on Friday asked Congress to give the Federal Emergency Management Agency an extra $9.7 billion in borrowing authority for the National Flood Insurance Program, as part of a $60.4 billion Hurricane Sandy relief proposal.
If approved, the money would be a 50 percent increase for the program, which is currently capped at $20.7 billion, and would go to filling claims filed by the thousands of residents of the Northeast who were impacted by the late October storm.
In letters to House Speaker John...
Obama Seeks $9.7B More For Post-Sandy Flood Insurance
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