financetom
Business
financetom
/
Business
/
Biden surveys collapsed Baltimore bridge, pledges help
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Biden surveys collapsed Baltimore bridge, pledges help
Apr 5, 2024 9:41 PM

WASHINGTON, April 5 (Reuters) - President Joe Biden took

an aerial tour on Friday of the collapsed Baltimore bridge that

is blocking a key East Coast shipping lane, and he pledged

federal help in rebuilding the span, an idea some Republican

lawmakers in the U.S. Congress have resisted.

A cargo ship crashed into the Francis Scott Key Bridge on

March 26, sending it splashing into the harbor and killing six

people. Work to clear the wreckage and restore traffic through

the Mid-Atlantic state's shipping channel is ongoing.

Aboard his Marine One helicopter, Biden flew over the scene

of the disaster to get an aerial view. He met local officials

for a briefing on the economic impact to the Baltimore port, an

important shipping destination for ships to offload automobiles.

Speaking with the fallen bridge behind him as an imposing

backdrop, Biden vowed, "We will not rest" until the bridge is

rebuilt and the area is back to normal.

He called on Congress to approve funding for the new bridge

as soon as possible.

"I'm here to say your nation has your back and I mean it,"

Biden said. "We're going to get this paid for."

He also vowed that the parties responsible for the bridge

collapse will help pay to repair the damage and "be held

accountable to the fullest extent the law will allow."

Biden later met the families of the six people killed in

the accident. The victims were all immigrants from Mexico and

Central America, who were fixing potholes on the road surface of

the bridge when it collapsed.

Shortly before the president's flyover, dive teams

recovered the body of one of the missing highway repair workers,

Maynor Yasir Suazo-Sandoval, 38, of Honduras, officials said.

Three other bodies remain trapped beneath the underwater debris.

Two others were previously recovered.

Biden's meeting with the families of these immigrant workers

came as his rival Republican presidential nominee Donald Trump

has ramped up anti-immigrant rhetoric and cast migrants as

dangerous criminals "poisoning the blood" of America.

State and federal officials have raised alarms over the

hardships the port's closure could impose on the regional

economy with thousands of port workers already idled.

The Port of Baltimore ranks first in the U.S. for volume of

autos and light trucks and farm and construction machinery

handled, according to the state of Maryland. Most of that

traffic has been suspended since the accident, though some

terminal operations outside the affected area have resumed.

The White House's Office of Management & Budget (OMB), in a

letter to Congress on Friday, asked the federal government to

cover the bridge replacement, which federal officials say could

cost at least $2 billion.

Some Republican hardliners in the U.S. House of

Representatives oppose using new federal dollars to fund the

bridge's reconstruction. Such a request could probably pass the

Senate, controlled by Biden's fellow Democrats, but may run into

trouble in the narrowly divided House.

The House Freedom Caucus, a bloc of roughly three dozen

hardline Republicans who can wield outsized influence over House

Speaker Mike Johnson, on Friday issued a series of demands in

exchange for their cooperation.

FUNDING FOR THE BRIDGE

Hours after the bridge collapse, Biden said the U.S.

government would "pay the entire cost" of reconstruction and his

administration announced $60 million in emergency relief last

week.

The administration will pursue all avenues to recover costs

and "ensure that any compensation for damages or insurance

proceeds collected will reduce costs for the American people,"

Office of Management and Budget Director Shalanda Young wrote on

Friday.

White House officials have held talks in recent weeks with

Johnson's office over billions in aid for Ukraine and Israel as

well as money for the collapsed bridge, according to two

officials familiar with conversations who asked not to be named.

The spending measures separately have bipartisan support,

but the White House is aware that Johnson must satisfy his

hardline colleagues, which means many spending proposals will be

tethered together in order to pass, the officials said.

The Freedom Caucus, whose members helped oust Johnson's

predecessor last year, said Congress should seek "maximum

liability" from foreign shipping companies.

It also demanded that any aid be fully offset with spending

cuts and that the Endangered Species Act and other regulations

are waived to avoid delays.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Dubai's Mashreq to work with Goldman Sachs to cater for rich clients
Dubai's Mashreq to work with Goldman Sachs to cater for rich clients
Apr 10, 2025
DUBAI (Reuters) -Dubai-based Mashreq has entered a partnership with Goldman Sachs Asset Management to offer discretionary investment services and tap growing demand for professionally managed portfolios in the Gulf. As the number of high-net-worth individuals, keen for sophisticated investment strategies, increases in the region, a joint statement said services resulting from the collaboration would be available from this month. Discretionary...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Market Chatter: Dell Eliminates, Narrows US Discounts on Many Computers
Market Chatter: Dell Eliminates, Narrows US Discounts on Many Computers
Apr 10, 2025
05:51 AM EDT, 04/10/2025 (MT Newswires) -- Dell Technologies ( DELL ) has removed or narrowed the discounts on many of its computers in the US, Bloomberg News reported Thursday. An analysis showed fewer laptop discounts listed on the company's online store than at any point since at least the beginning of last year, while some specials have also been...
Norway wealth fund will maintain long-term strategy, government says
Norway wealth fund will maintain long-term strategy, government says
Apr 10, 2025
OSLO, April 10 (Reuters) - Norway's sovereign wealth fund, the world's largest, has a long-term investment strategy that is widely agreed upon, and will remain calm in the face of turbulent times, the finance ministry said in a strategy update on Thursday. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved