Update: Los Angeles Wildfires — Governor Newsom Wants $40 billion from Congress

California Governor Gavin Newsom wants Congress to give the state close to $40 billion to help Los Angeles recover from the devastating wildfires that hit California earlier this month.

It likely will be the most expensive natural disaster in U.S. history.

On Friday of last week, Newsom sent a letter to House Speaker Mike Johnson and Rep. Tom Cole who heads the House Appropriation Committee. It said, “Los Angeles is one of the most economically productive places on the globe, but it can only rebound and flourish with support from the federal government as it recovers from this unprecedented disaster.”

Newsom promises the city will use the money “wisely.” Damage costs are estimated to be somewhere in the neighborhood of $250 billion. Over 16,000 structures were destroyed.

By the way, this money is in addition to fund requests from other federal sources. He asked for $16.8 billion from the Federal Emergency Management Agency (FEMA). That money is earmarked for the rebuilding of the infrastructure and $5 billion is going to go to the cleanup of debris.

Newsom wants the Department of Housing and Urban Development (HUD) to send him $9.9 billion for grants to help victims of the fires like homeowners, businesses and renters. There is also a request to the Small Business Association (SBA) to help businesses and homeowners.

Source link: Associated Press — https://bit.ly/41flUEf