FOR IMMEDIATE RELEASE: September 27, 2008
MEDIA CONTACT: Matt Mackowiak
Sen. Hutchison: Hurricane Ike Funding Passes Congress
Funding for Housing, Infrastructure in Package Has Now Passed Both Houses of Congress
WASHINGTON, DC - U.S. Senator Kay Bailey Hutchison (R-TX), Texas’s senior Senator, today announced that major federal funding for the recovery from Hurricane Ike passed the Senate. The overall funding bill includes $22.8 billion in disaster funding for Texas, Louisiana and the flooding in the Midwest.
“This was a difficult task and a first step on the road to recovery,” said Sen. Hutchison. “We had a very short amount of time to secure funding for the recovery from Hurricane Ike, and this bill was the last legislative vehicle to do so this year. After Hurricane Ike hit Texas, the entire Texas Congressional delegation came together to request damage estimates, draft bill language, and consult with lawmakers. Without the combined effort, I do not believe we could have secured this major funding for the state’s recovery. As further damage estimates come in from the state, I will continue to fight for additional funding for the recovery when the new Congress convenes next year.”
The exact amount that the State of Texas and its affected communities will receive is unclear at this time and will not be known until the State of Texas provides complete damage estimates in the coming weeks and months.
“It is my goal to ensure that Texas gets all the help needed for recovery of the huge economic losses from Hurricanes Ike and Dolly,” said Sen. Hutchison.
Sen. Hutchison was able to secure over $600 million in tax benefits for Texas in separate legislation, the Tax Extenders bill, which passed the Senate Tuesday. In that bill, Texas will receive increased tax exempt bonding authority and low income housing tax credits. These tax benefits, worth over $600 million, will now be available to all of the 29 Texas counties in the Hurricane Ike disaster area. The package will also include enhanced depreciation deductions for businesses in the Hurricane Ike disaster area.
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