WASHINGTON – President Barack Obama has signed into law a $9.7 billion bill to pay flood insurance claims from Superstorm Sandy.
The law increases the borrowing authority of the Federal Emergency Management Agency. FEMA had warned that it was set to run out of money without additional dollars from Congress.
The White House said more than 100,000 flood claim payments from Sandy would be delayed without the additional money.
House Speaker John Boehner has promised a vote Jan. 15 on that $51 billion package, and Senate leaders have promised a vote the following week.