Posted on December 11, 2024
DredgeWire Wonders…… The article below suggests that the federal government is prepared to pay already at least $1.7 billion of the $1.9 billion required… Leaving a $200 million shortfall… But what about the $350 million Maryland got from its insurance company???
The members of Maryland’s congressional delegation, including three who will soon retire, are in a last-minute sprint to secure full funding for the Francis Scott Key Bridge replacement before lawmakers leave for the holidays. They’re appealing to their fellow representatives and senators, making the case for Maryland and other states that have faced disasters this year, sticking together and trying to stave off a growing wave of pushback from the House Freedom Caucus.
They’ve already secured 90% of the funding through the National Relief Program, but the last 10% of the $1.7 billion to $1.9 billion price tag is no small ask.
“Team Maryland remains united in our commitment to securing the federal funding essential for rebuilding the Key Bridge, and we are working tirelessly to see it through,” said Congressman John Sarbanes, who represents Maryland’s 3rd Congressional District.
DredgeWire Question – Why does Maryland need more money to rebuild?
New York CNN – The state of Maryland is about to get an insurance payment of $350 million related to the collapse of the Francis Scott Key Bridge in late March, according to the broker handling its policy on the structure.
The payment would come from insurer Chubb, which has a $350 million limit on the policy it had written on the bridge.
