Home Money & Business Business Biden seeks $100 billion in disaster relief funding, which includes resources for rebuilding the fallen bridge in Baltimore.

Biden seeks $100 billion in disaster relief funding, which includes resources for rebuilding the fallen bridge in Baltimore.

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BALTIMORE — President Joe Biden is preparing to request nearly $100 billion in emergency disaster assistance, which includes funding to reconstruct the Francis Scott Key Bridge in Baltimore. The bridge collapsed after a large container ship, which had lost power and drifted off course, struck it back in March.

Just hours after the incident, Biden committed to covering the total cost of the bridge’s reconstruction, expressing confidence that Congress would back his initiative. He made a visit to Baltimore in the subsequent weeks to reaffirm his support for the project.

Since the disaster, Maryland’s congressional representatives have been actively working to ensure that the federal government finances the entire estimated $2 billion needed for the bridge. Typically, federal funding would cover up to 90% of the costs.

In a letter addressed to House Speaker Mike Johnson on Monday, Biden emphasized the need for Congress to enhance funding for the Federal Emergency Management Agency (FEMA) and related programs, particularly following the impacts of Hurricanes Helene and Milton. This request comes at a crucial time when lawmakers are in a lame-duck session, tackling important legislative priorities before handing over to the new Congress and incoming Trump administration. Most notably, the package includes around $8 billion designated for rebuilding and repairing highways and bridges across more than 40 states, Maryland included.

Senator Ben Cardin from Maryland confirmed that the proposal also consists of legislation aimed at securing full federal funding for the bridge’s reconstruction. He mentioned that legislators have been on the lookout for a suitable “vehicle” to facilitate its approval and remain optimistic about its passage.

Senator Chris Van Hollen, another Maryland Democrat, highlighted the longstanding support of the Maryland delegation toward other states during crises caused by hurricanes and forest fires, and he expressed hope that the nation would return the favor now that Maryland is in need of rebuilding the Key Bridge.

In August, Maryland transportation officials approved a contract for the reconstruction project that includes a target completion date of 2028 and an estimated cost of $1.7 billion. This tragic incident claimed the lives of six road workers who were engaged in pothole repairs when the bridge collapsed into the water. The cargo vessel, known as Dali, had suffered multiple electrical problems while docked in Baltimore prior to the crash.

Legal proceedings will sort out liability issues stemming from what could potentially be one of the most costly maritime disasters on record, with hopes of recovering funds that may be utilized to finance the rebuilding efforts.

Opened in the 1970s and named after Francis Scott Key, the author of the national anthem, the bridge spans 1.6 miles and linked vital industrial sectors across Baltimore’s harbor, providing drivers with an efficient route bypassing downtown. It was a well-traveled route for truckers on the East Coast.

Following the bridge’s collapse, transit delays and accidents have surged on alternative routes. Representative Kweisi Mfume, whose district encompasses areas at the northeast end of the bridge, stated that its reconstruction holds significant importance for Baltimore’s dockworkers, local businesses, and all residents who regard the bridge as a crucial landmark in the community.