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Market Commentary

1/16/2013

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House Approves Sandy Aid, Senate Votes Next
Victims of Hurricane Sandy are one step closer to getting a major infusion of federal disaster aid. Tuesday night, the House approved a $50 billion assistance package. This type of funding has typically been noncontroversial. But the Sandy aid has been a battle.

More than 10 weeks after Superstorm Sandy brutalized parts of the heavily populated Northeast, the House approved $50.7 billion in emergency relief for the victims Tuesday night as Republican leaders struggled to close out an episode that exposed painful party divisions inside Congress and out.

The vote was 241-180, and officials said the Senate was likely to accept the measure early next week and send it to President Barack Obama for his signature. Democrats supported the aid in large numbers, while majority Republicans opposed it by a lopsided margin.


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