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.President Biden sent a formal letter to Congress late Friday night saying that a key loans program for helping disaster victims will run out of money within weeks at a time when Americans hit by Hurricane Helene need the relief.helps renters and homeowners repair properties and helps businesses cover basic operation expenses. But the agency needs about $1.

“The Congress must act to restore this funding,” said Biden, who traveled to four states this week to survey damage. Former President Donald Trump talks with Georgia Gov. Brian Kemp after speaking at a temporary relief shelter in Evans, Ga., an area impacted by Hurricane Helene.Hurricane Helene ravaged a huge swath of North Carolina and big parts of Georgia, two critical states for the upcoming federal election.The federal response to the disaster has become an issue in the campaign.

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.

Trump has repeatedly made false claims about the disaster response, including that FEMA is running out of money because it has spent it on migrants, and that Biden had not been in touch with the Republican governor of Georgia.

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