House Passes Webster Bill to Ease Financial Burdens for Disaster-Affected Communities

Washington, D.C. -
Yesterday, the U.S. House of Representatives passed H.R. 2672, the FEMA Loan Interest Payment Relief Act , legislation cosponsored by Congressman Daniel Webster (R-Clermont), providing much-needed financial relief to local governments and electric cooperatives impacted by natural disasters.

"After disaster strikes, communities are often face significant financial burdens as they await federal reimbursement," said Rep. Webster. "This legislation provides timely relief by reimbursing interest payments on disaster-related loans, allowing local governments and cooperatives to focus on rebuilding stronger without the strain of excessive financial costs."

The FEMA Loan Interest Payment Relief Act amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to allow for the reimbursement of qualifying interest on loans taken to cover disaster-related expenses. Critically, H.R. 2672 applies retroactively to loans from the past seven years, ensuring immediate support for communities still recovering from prior disasters.

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