FEMA: Federal Disaster Relief Fund Nearly Depleted

The Federal Disaster Relief Fund is nearly depleted, a fact that could affect victims of Hurricane Irene and other disasters that occurred earlier this year.

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NEW YORK — The Federal Disaster Relief Fund is nearly depleted, a fact that could affect victims of Hurricane Irene and other disasters that occurred earlier this year.

The fund has fallen to less than $800 million, said Federal Emergency Management Agency (FEMA) Administrator Craig Fugate, CNN reports. Because the fund has less than $1 billion, the agency is only authorized to pay for emergency repairs.

Long-term projects such as rebuilding roads and schools will be put on hold.

Read the full story.

Read FEMA’s response.

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