ATLANTA (AP) – A summer of natural catastrophes has exposed another peril in disaster-prone states: How to pay for the rescues, repairs and rebuilding.
The combined tab from Hurricanes Harvey and Irma is expected to hit $200 billion or more. While the federal government is expected to pay most of that, the affected state and local governments have to start paying for recovery now and eventually could be on the hook for tens of millions of dollars.READ MORE: Child Protective Services Investigating After Haltom City Police Find 1-Year-Old Alone In Street At Night
Florida and South Carolina, both hit by Hurricane Irma, are among the dozen or so states that do not have dedicated disaster funds and opt to cover the expenses after the fact.READ MORE: Day 2 Of The State Fair Of Texas Brings Visitors Fun, Football & Fried Food
Experts say such pay-as-you-go disaster funding can be risky, especially if the economy starts going sour.MORE NEWS: No Injuries Reported After Propane Tank Explosion At Texas Motor Speedway
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