A government auditor warned lawmakers Tuesday that the federal government likely will run out of money to cover disasters at the peak of hurricane season this year — imperiling its ability to pay for emergency shelters, home repairs and long-term rebuilding.
The warning at a congressional hearing came the day after President Joe Biden proposed a moderate increase in disaster spending next year. Even if the request is approved, however, it likely will be too little too late to prevent the disaster fund from going insolvent.
The Federal Emergency Management Agency, which runs the disaster fund, faced an identical situation last summer and had to restrict spending for five weeks, and halt funding for 2,400 rebuilding projects.
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