President Obama proposed a $60.4 billion emergency spending bill on Friday to finance recovery efforts in areas pummeled by Hurricane Sandy, a sum that White House officials called a “robust” investment in the region but that was far less than what the states had requested.
The spending plan would pay for most, but not all, of the $82 billion in damage identified by the governors of New York, New Jersey and Connecticut, helping homeowners and small-business owners rebuild, repairing subway and other transit systems, replenishing eroded beaches and reimbursing governments for the cost of police, fire and other services.
The president’s plan would not cover several big-ticket items sought by state governments. It would not pay for damage already covered by private insurance and would extend aid only to primary residences. While small businesses would be eligible for help, larger private firms like Consolidated Edison would not.
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