The Big Story 

A federal program that provides disaster loans to businesses and homeowners is out of money following back-to-back hurricanes, President Biden said Tuesday. 

© AP Photo/Rebecca Blackwell

Biden said in a statement that the Small Business Administration’s disaster loan program is out of funds.

“Speaker Johnson has promised that this and other disaster programs will be replenished when Congress returns, so Americans should continue to apply for these loans. SBA will continue to process applications and will disburse loans as soon as Congress provides the needed funding,” Biden said. 

The statement was first reported by The Washington Post.

Speaker Mike Johnson (R-La.) said Thursday that there’s “no question these devastating back-to-back storms have stressed the SBA funding program.”

However, he also said the administration “has the necessary disaster funding right now to address the immediate needs of American people in these hurricane affected areas.”

“Congress is tracking this situation closely, and when members return in just a few short weeks, the administration should have an accurate assessment of the actual dollar amount needed and there will be strong bipartisan support to provide the necessary funding.”

Read more from our colleague Aris Folley at TheHill.com.

Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

Did someone forward you this newsletter? Subscribe here.

Essential Reads 

How policy will affect the energy and environment sectors now and in the future:

Giant pandas arrive at National Zoo

State and federal officials announce expansion of California’s Salton Sea conservation project

Large polluters cut greenhouse gas emissions 4 percent last year: EPA data

In Other News 

Branch out with a different read from The Hill:

Most in Florida prefer candidates who fight climate change: Survey

A majority of Floridians said they would prefer political candidates who back action on climate change, according to a Florida Atlantic University survey released Tuesday.

What We're Reading 

News we've flagged from other outlets touching on energy issues, the environment and other topics:

• Netanyahu tells U.S. that Israel will strike Iranian military, not nuclear or oil targets, officials say (The Washington Post)

   

• Polluted water from Mosaic phosphate plant likely spilled to Tampa Bay during Milton (Tampa Bay Times)
  
  

• What happens to the world if forests stop absorbing carbon? Ask Finland (The Guardian)

On Tap 

Upcoming news themes and events we're watching:

What Others are Reading 

Two key stories on The Hill right now:

5 takeaways from Trump’s Bloomberg interview

Former President Trump on Tuesday sat down with the editor-in-chief of Bloomberg News for an expansive and at times confrontational interview. Read more

Massive meat recall includes hundreds of products sold at Walmart, Target, more

(NEXSTAR) — Check your fridge and freezer: A massive meat recall linked to possible listeria contamination has impacted hundreds of ready-to-eat meals sold at major grocery store chains across the U.S., including Walmart, Trader Joe’s and Target.   Read more

Opinions in The Hill 

Op-eds related to energy & environment submitted to The Hill: