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For Immediate Release
Office of the Press Secretary
October 28, 2005

Fact Sheet: President Bush Requests Rescission and Reallocation Packages

Today's Presidential Action:

On October 28, 2005, President Bush Submitted To Congress A Savings Package of $2.3 Billion In Rescissions And A Request To Reallocate $17 Billion of Already Appropriated Funds To Begin Rebuilding Critical Infrastructure in the Gulf Region And To Continue Recovery Efforts.

The Package Designates $17 Billion To Continue the Recovery and Begin Rebuilding The Gulf. Funds will be used to replace critical infrastructure, facilities, and equipment damaged during this year’s hurricanes and support additional recovery activities. Rebuilding efforts include two Veterans Administration hospitals, military bases employing more than 22,000 people, and highways and bridges damaged by the Hurricanes. Additional funds will be provided to help the region and its citizens recover, including funds for small business assistance, job training, housing relief, environmental restoration, and social services.

Fiscal Responsibility Is Maintained While Recovery Assistance Continues. The President pledged to continue fiscal discipline while meeting the rebuilding and recovery needs of the Gulf Coast and hurricane victims. Today’s request is consistent with the President’s principles for the FY2006 Budget, including reducing non-security funding below last year’s level and maximizing mandatory savings in the reconciliation process.

A Continued Robust and Compassionate Recovery

More Than $64 Billion In Hurricane Relief Has Been Made Available To Date. Since Hurricane Katrina struck, more than $64 billion has been made available for Gulf hurricane recovery efforts including funds provided by the FEMA Disaster Relief Fund, low-interest loans to local governments, flood insurance, and funding relief from cost-share requirements.

Hurricane Relief Funding By State To Date.
From the Request, Alabama would receive $185 million, Louisiana would receive $6.4 billion and Mississippi would receive $6.2 billion, with the balance going to these and other states.

The President Will Work With Congress On Additional Recovery Initiatives Through Other Legislation.

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