Biden says small business disaster loan program will soon run out of money

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President Biden says Congress needs to shore up a small business disaster loans fund, and fast. Meanwhile, the response to Hurricane Helene has become a presidential election issue.

President Biden crosses himself after Buck Paulk of Shiloh Pecan Farm, in Ray City, Ga., leads a prayer on Oct. 3, 2024.

“I warned the Congress of this potential shortfall even before Hurricane Helene landed on America’s shores,” Biden said in his letter, saying the White House had asked for more funding for the SBA “multiple times over the past several months” including during the recent negotiations over a Biden said the response has been “robust and well-coordinated” and said the Federal Emergency Management Agency has enough resources for now, though it will need more money by the end of the year, when Congress gets back. How much more is still to be determined, he said.Vice President Harris went to Georgia earlier this week to reassure victims and talk to community leaders, and tomorrow she heads to North Carolina to see the damage there.

 

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