The White House Press Office released a statement in regard to Vice President Joe Biden’s announcement of a new loan forgiveness program during his trip to New Orleans today. The program is meant to assist local governments along the Gulf Coast. Read the full text of the statement after the jump.Today at the St. Bernard Recreation Center in New Orleans, Vice President Joe Biden announced new procedures to allow local governments in Louisiana and Mississippi that received Special Community Disaster Loans (Special CDL) following Hurricanes Katrina and Rita to apply for loan forgiveness. To qualify, these municipalities must have experienced operating deficits during the three full fiscal years following the storms. These new procedures will be published in the Federal Register next week. Today’s announcement reflects this Administration’s commitment to meeting the needs of Gulf Coast residents by working closely with all levels of government to expedite assistance and forge new partnerships across the region.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=131913