Economic news

U.S. Congress to allocate $29 billion for hurricane-recovery efforts

The White House will ask the U.S. Congress to provide $29 billion from the federal budget for hurricanes victims.

Disaster aid plan includes $16 billion for insurance payments to participants in the government program. Another $13 billion would go for federal disaster relief operations.

Hurricane Harvey devastated mostly Texas, while Maria and Irma struck the Gulf Coast and Florida.

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