Biden Estimates Milton Damage at $50 Billion, Plans Florida Visit for Sunday

WASHINGTON—President Joe Biden on Friday stated that Hurricane Milton is anticipated to result in $50 billion in damages following its impact on Florida, resulting in widespread devastation and loss of life. The president intends to visit the state on Sunday to assess the areas affected by Milton.

“Experts have estimated that … it has caused damages totaling around $50 billion,” Biden mentioned during a briefing at the White House on the government’s response efforts. He pointed out that the cost projection pertains solely to Hurricane Milton and may vary.

Fitch Ratings reported on Thursday that Milton “resulted in significant economic and insured losses from strong winds, significant storm surge, heavy rainfall, tornadoes, and flooding.”

“We anticipate that Milton’s insured losses will fall between $30 billion and $50 billion, making it the largest insured loss since Hurricane Ian (a powerful Category 4) devastated a similar path in 2022 and resulted in $60 billion in losses,” a Fitch report indicated.

Over 3 million homes and businesses lost power due to the storm.

During the briefing, Biden highlighted that the response efforts are focused on “restoring power and clearing debris” to address the immediate needs of residents impacted by the storm.

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He mentioned that 50,000 power line workers from 43 states and Canada are currently operating in the area, and they have successfully restored power to one million individuals.

Hurricane Milton made landfall at Siesta Key, Florida, as a Category 3 storm but underwent more significant weakening than expected post-landfall. Ninety minutes after making landfall, it had downgraded to a Category 2 and transitioned into the Atlantic as a Category 1 on Thursday morning.

The storm followed Hurricane Helene, a Category 4 hurricane that caused widespread destruction in the southeastern U.S. just two weeks prior.

Biden reiterated his appeal for additional funding from Congress to aid in the recovery efforts.

“We’re going to require a substantial amount of assistance. We need a significant increase in funds,” Biden expressed during the briefing.

While he acknowledged not having directly communicated with House Speaker Mike Johnson, Biden highlighted that he is in contact with several Republicans who would relay the message to Johnson.

“I believe Speaker Johnson will receive the message. He needs to step up, particularly for small businesses,” Biden emphasized.

The president had earlier urged Congress to reconvene from recess to approve supplementary funding to support the recovery efforts. However, Johnson has not committed to recalling Congress before the November election.

Reports suggest that Johnson indicated Congress may need to pass an aid package potentially reaching $100 billion due to hurricane-related expenses.

The House Speaker’s office did not immediately respond to a request for comment from The Epoch Times.

Biden cautioned in the letter that the agency “will deplete its funding within a matter of weeks, well before Congress plans to reconvene.”

Luna stated on X that she had discussions with Biden, mentioning that “he is personally ensuring FEMA does not cause delays with debris removal and supports the $15 billion in FEMA funds specifically allocated for hurricane victims.”

“If Congress convenes a special session, we can address this promptly. @SpeakerJohnson, let’s make it happen!”

Stacy Robinson contributed to this report.