Obama Signs $50.5 Billion Sandy Relief Bill

CBS News - January 29, 2013

LONG BEACH, N.Y. (CBSNewYork) — President Barack Obama on Tuesday night signed the $50.5 billion Sandy relief package into law.

Obama also designated storm relief funding as an emergency requirement.

The bill sends $50.5 billion in federal aid to 12 states hit by Sandy.

The allotments break down thusly:

• $11.5 billion to replenish disaster relief funds from the Federal Emergency Management Agency;

• $10.9 billion for transit systems;

• $5.4 billion to rebuild and protect coastlines;

• $16 billion in community grants for businesses and homeowners.

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