Biden-Harris admin’s disaster loan program tapped out after hurricanes

The Biden-Harris administration’s loan program for disaster survivors is out of money, the White House announced Tuesday. Congress must approve more funding for the agency but it is on break until after the presidential and Congressional elections of Nov. 5, Politico reported.

Without more funding, the Small Business Administration (SBA) can’t offer assistance to people who saw their homes and businesses destroyed by Hurricane Helene and Milton. House Speaker Mike Johnson (R-LA) says he has no plans on recalling Congress prior to Nov. 12 and argued that states need more time to assess the full extent of their required assistance from both hurricanes. Johnson responded to the need to top up the fund by saying “there’s no question these devastating back-to-back storms have stressed the SBA funding program.”

“But the Biden-Harris Administration has the necessary disaster funding right now to address the immediate needs of American people in these hurricane-affected areas,” the speaker continued. “Congress is tracking this situation closely, and when members return in just a few short weeks, the administration should have an accurate assessment of the actual dollar amount needed and there will be strong bipartisan support to provide the necessary funding.”



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