Senate Democrats

Reid: An Initial Investment of $150 Billion Will Be Needed

Democratic Leader Harry Reid released the following statement today:

WASHINGTON, DC – “I join with all Americans in standing with the victims and survivors of Hurricane Katrina as they continue the rescue and recovery operations. The devastation of this storm is massive, stretching across a number of states, and affecting millions of Americans.

“The federal government has an enormous responsibility to provide relief to the survivors of this storm. We can and must do better than the federal government’s performance so far. Through my conversations with officials on the ground and in consultation with Senator Mary Landrieu, I believe that the recovery and relief operations will cost up to and could exceed $150 billion. FEMA alone will likely require $100 billion in additional funding.

“I want to make clear to the people of the Gulf States that we will continue to stand with you as the recovery continues, and do everything we can to get you the necessary resources you need to rebuild.”