President Biden said the federal government would pay the entire cost of rebuilding the Francis Scott Key Bridge in Baltimore after it collapsed when struck by a cargo ship.
He directed his team to reopen the port and rebuild the bridge as quickly as possible, noting the bridge’s importance for the regional economy and transportation.
“It’s my intention that we will pay for the entire cost of reconstructing that bridge. I expect the Congress to support my effort,” Biden said. “It’s gonna take some time. And the people of Baltimore can count on us, though, to stick with that every step of the way until the port is reopened and the bridge is rebuilt. We’re not leaving until this job is done.”
The port handles a large volume of cargo and vehicles annually, supporting many jobs.
Biden committed all necessary federal resources to the emergency response and recovery.
Regarding Secretary of Transportation Pete Buttigieg, Biden said he “told him, ‘We’re going to spend all the federal resources they need as we respond to this emergency. I mean all the federal resources, and we’re going to rebuild that port together.’”
His comments acknowledged the port’s closure could disrupt supply chains and potentially contribute to inflation risks given its impact on imports and goods manufacturing.
The full federal funding of repairs was also noted as increasing budget deficits when they are already high.
“We’ll need to clear that channel before the ship traffic can resume,” he said.
“It’s also the top port in America for both imports and exports of automobiles and light trucks. Around 850,000 vehicles go through that port every single year, and we’re going to get it up and running again as soon as possible,” Biden said. “Fifteen thousand jobs depend on that port, and we’re going to do everything we can to protect those jobs and help those workers.”
“Over 30,000 vehicles cross the Francis Scott Key Bridge on a daily basis. It’s virtually…one of the most important elements for the economy in the Northeast and the quality of life,” he said.
“I’ve directed my team to move heaven and earth, reopen the port, and rebuild the bridge as soon as humanly possible,” he added.
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