Connect with us

Hi, what are you looking for?

OMD NewsOMD News

Finance

$1.3 Billion Shortfall: Federal Emergency Management Agency Faces Dire Financial Situation as Hurricane Season Looms – Urging Residents to Prioritize Flood Insurance!

Lots of bad weather is making the Federal Emergency Management Agency run out of money, so they’re urging people to get flood insurance before hurricane season gets worse, because it’s a lot more reliable than waiting for government help.

Federal Emergency Management Agency Warns of Funding Shortfall Amidst Severe Weather – Urges Houston Residents to Get Flood Insurance Before Hurricane Season

According to the article of ABC 13, severe weather has hit Houston and the U.S. a lot this year, leaving the Federal Emergency Management Agency (FEMA) almost out of money. With hurricane season starting, the Federal Emergency Management Agency warns it might not have enough funds to help if another big disaster strikes. The agency says it could be short by over $1.3 billion by August, and that’s even before counting all the recent weather events.

Federal Emergency Management Agency says people should consider getting flood insurance now if they don’t have it. It takes about a month for it to start working, but it’s much more reliable than waiting for federal aid. According to Gilbert Giron from the Federal Emergency Management Agency, during Hurricane Harvey, the average flood insurance payout was about $116,000, while federal aid was only around $4,400. So, having flood insurance could make a big difference in helping people get back on their feet after a flood.

READ ALSO: Arizona Urged To Bridge Electric Vehicle Tax Credit Gap Amid Doubts Over COVID-19 Rules And Legal Fairness

$1.3 Billion Shortfall: Federal Emergency Management Agency Faces Dire Financial Situation as Hurricane Season Looms – Urging Residents to Prioritize Flood Insurance! (PHOTO: Brookings Institution)

Federal Emergency Management Agency Urges Individuals to Take Proactive Measures for Hurricane Season – Get Flood Insurance and Enhance Community Resilience

Furthermore, the Federal Emergency Management Agency is trying to get more money to help out, but they say it’s important for individuals to take steps to protect themselves too. They want people to be prepared for future disasters, especially during hurricane season. By getting flood insurance and taking other precautions, communities can better withstand the impact of severe weather and recover more effectively when disasters strike.

READ ALSO: $2.5 Billion In Tax Refunds: Don’t Get Hooked Through Tax Scams – Understand Your Tax Obligations And Avoid Financial Risks!

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Finance

There is finally an update on 4th stimulus check for Social Security Recipients! Individuals who receive Social Security benefits can expect to receive a...

Military

The attack using 14 military choppers that Russian President Vladimir Putin planned was destroyed by Ukraine using US-supplied long-range tactical missiles. Russian President Vladimir...

Finance

The Biden administration has announced recently that it plans to increase the monthly payments of seniors and veterans to $2,000. $2,000 in Monthly Payments...

Finance

In Texas, this September the SNAP payments will end, worth up to $1,691, on Friday. The household income determines eligibility. A single-person household must earn more than...