Mr. Durbin opening statement.
Our administrative cost is budgeted below what HUD allows at only 4%, we want to spread this rebuilding assistance money to as many people, homeowners, renters, and small businesses as quickly as we possibly can, again, congress has appropriated $1.65 billion to Louisiana. We are awaiting HUD approval to receive these funds, but Louisiana remains $2 billion short of what the Governor has said our citizens need to rebuild, roughly, $3.8 billion is what the Governor has been requesting, so far, $1.65 billion has been appropriated. After seven trips to Washington, DC, since the floods, Governor Edwards continues to work with Louisiana's congressional delegation urging congress to bring home the additional $2 billion we need.
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