The feds have agreed to an April 16 deadline on providing an answer on when, and if RESTORE 2016 flood grant money will be available to those who took out SBA loans, AKA the “duplication of benefits” loophole.
Senator Bill Cassidy says at that point Louisianans will be told how the law will be interpreted by HUD and the Office of Management and Budget.
“There has to be some rule making, ok, this is how we are going to send the money out and this is to whom we are going to send it.”
Congress passed a law last year that allowed those who obtained Small Business Administration loans for the purpose of repairing flood damage access to a federal flood relief grant, known as RESTORE.
Cassidy says Housing and Urban Development Secretary Ben Carson supports releasing the money to those in the duplication of benefits loophole, but OMB is still expressing reservations.
“It is apparent that they could somehow narrowly define the law as passed by Congress, and not end up putting money out for the duplication of benefits.”
The Senator warned that even if the two agencies agree, it may still be weeks before any checks were sent out.
The Senator says if OMB and HUD were to disagree on how to administer the law, then there’s one last step in the appeals process that will provide some finality to the long running saga.
“Senator Kennedy and I, and whichever members of the Congressional delegation, would go to the President, seeking his support for what I think is the plain intent of Congress.”
Cassidy says it’s not clear how the President will decide to rule if a dispute were to take place between OMB and HUD.