Congress Passes FEMA Revolving Disaster Loan Program
On Friday, December 18, The U.S. House of Representatives passed S. 3418, the Safeguarding Tomorrow through Ongoing Risk Mitigation (STORM) Act, introduced by Senator Gary Peters (D-MI) was passed earlier this month. S. 3418 authorizes the Federal Emergency Management Agency (FEMA) to create a $100 million revolving loan program to help local governments finance projects that make communities resilient against natural disasters.
This $100 million program could be used to help mitigate a myriad of disasters, which would include flooding, severe storms, and wildfires. The bill now heads to the desk of President Trump, and he is expected to it into law.
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