(Fox Business’ “Varney & Company”)
By Jason Devaney | NEWSMAX
Rep. Pete Sessions, R-Texas, said Thursday the economic impact left behind by Hurricane Harvey could reach $1 trillion.
Sessions appeared on Fox Business’ “Varney & Company” and addressed the ongoing flooding in his home state.
“As you said, it may be $60, $70, $80 billion, but it’s a trillion-dollar impact,” Sessions said. “The federal government may pay $80 billion. You’ve got $920 billion that will be paid by people out of their own pockets, by insurance, by business.
“To put this place back together, it is a massive undertaking.”
Many damage estimates have been thrown around this week as Hurricane Harvey, which is now a tropical depression, dumped more than 50 inches of rain in the Houston area. Massive flooding in southeast Texas and southwest Louisiana have stranded thousands of people and left thousands of homes flooded.