Sen. Chris Van Hollen laid out the next steps for covering the cost of the collapse of the Baltimore Key Bridge, telling reporters this morning that an assessment is underway right now to determine the full cost of recovery.
Here is the breakdown of how the Maryland Democrat said the costs will be covered:
- Emergency Fund: About 90% of the bridge’s reconstruction will be covered by the Federal Highway Administration's emergency fund. That fund is backfilled with about $100 million a year through appropriations and currently has roughly $950 million in it. Other projects also rely on this fund, but Van Hollen pointed out that the cost of rebuilding will take years, so the fund will be replenished throughout the rebuilding process through annual appropriations. It’s possible Congress may need to allocate more to it in upcoming years, but his underlying point is there is time to keep those funds replenished. Van Hollen said the state of Maryland sent a letter yesterday notifying the federal government that it is going to seek money from the emergency relief fund.
- Supplemental request: Van Hollen and Sen. Ben Cardin, also from Maryland, are working to establish what will be needed as part of a supplemental request for the remaining 10% of the cost of bridge reconstruction that isn’t covered by the emergency fund. He expects they will work swiftly when Congress returns, but he did not guarantee a supplemental would pass in the next work period.
- Offsetting costs: Van Hollen argued against offsets in spending that some Republicans are calling for, saying “this is an emergency situation and we’ve always addressed emergencies through supplementals.”
- Clearing the blocked channel: Van Hollen said that the other priority that has to be dealt with is they have to clear the channel. He says that the Army Core of Engineers will cover the full cost of that piece of the recovery.