Task Force Discusses Economic Ramifications of Baltimore Bridge Collapse

Secretary Yellen directs Treasury Department to conduct financial assessment.

Secretary of the Treasury Janet Yellen stated that a task force is meeting to assess the financial ramifications of the Baltimore bridge’s recent collapse. Secretary Yellen said that both the passive economic impact of the bridge’s closure and the expenses necessary to rebuild the bridge were in consideration, adding that the bridge is one of the most important trade corridors in the United States.

“We’re monitoring this very closely and prepared to take any steps that can be helpful,” she said. 

When asked about President Joe Biden’s pledge that the federal government would cover the expenses necessary to rebuild the bridge, Secretary Yellen said that the Treasury would be assessing all potential options for financing. 

“My expectation would be that ultimately, there will be insurance payments in part to cover this, but we don’t want to allow worrying about where the financing is coming to hold up reconstruction,” she said.

As the Lord Leads, Pray with Us…

  • For discernment for Secretary Yellen as she assesses the availability of funds for the bridge restoration.
  • For the president and his economic advisors as they seek to ensure the cleanup and rebuild of the Baltimore bridge.

Sources: Reuters, MSNBC


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