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FEMA Borrows $2 Billion Amid Flood Insurance Crisis

2/17/2025

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Summary

Story summary

FEMA has taken a significant step by borrowing $2 billion from the U.S. Treasury to support the National Flood Insurance Program (NFIP) following the devastating floods from hurricanes Helene and Milton in 2024. With NFIP payouts projected between $6.4-$7.4 billion for Helene and $1.2-$2.9 billion for Milton, the financial pressure on the program is palpable.

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Story summary

FEMA has taken a significant step by borrowing $2 billion from the U.S. Treasury to support the National Flood Insurance Program (NFIP) following the devastating floods from hurricanes Helene and Milton in 2024. With NFIP payouts projected between $6.4-$7.4 billion for Helene and $1.2-$2.9 billion for Milton, the financial pressure on the program is palpable.