From Fortune: FEMA is denying requests for aid as relief fund runs dry amid record number of costly disasters

“FEMA’s Disaster Relief Fund could be depleted by mid August without additional money from Congress, Homeland Security Secretary Alejandro Mayorkas told the Associated Press last month. The fund faces a more than $6 billion deficit without supplemental appropriations, according to its most recent monthly report.

Last year, the Disaster Relief Fund was forced to halt payments for about a month – the first time it had to do so since 2017 — for thousands of projects not considered immediate as it was running out of money. For example, funding was delayed for projects related to past hurricanes and wildfires.”

“If FEMA funding doesn’t grow at the same rate of disasters, something is going to give,” said Sarah Sullivant, a managing director at S&P Global Ratings. “These disasters are getting more costly. It will require more funding for FEMA. If that funding is not forthcoming, we are talking about long-term state and local governments being on the hook for more.”