Florida Senator Rick Scott (R) joined Senator Thom Tillis (R-NC), along with Senators Ted Budd (R-NC), Tim Scott (R-SC) and Bill Cassidy, (R -LA), to announce the upcoming introduction of legislation that would replenish the Small Business Administration (SBA) Disaster Loan Program.
According to a news release from Sen Rick Scott, the bill would appropriate $550 million to fund the SBA Disaster Loan Program Account, which would provide $2.475B in lending capacity projected to last until the end of 2024.
“We cannot allow frontline federal agencies, like the SBA, to run out of disaster relief funds,” Senator Rick Scott said. “This is especially important in the wake of Hurricanes Helene and Milton which devastated Florida, North Carolina and communities across the Southeast U.S. I continue to call on Leader Schumer to immediately reconvene the Senate so we can fund disaster relief functions at FEMA, the SBA, USDA and other agencies to get folks what they need and deserve. I won’t stop fighting to get this done and am proud to join my colleagues to introduce a bill that funds SBA disaster loans and makes sure the federal government is a reliable partner as families continue their recovery.”
Read text of the bill HERE.
