President Obama Signs $50.5B Hurricane Sandy Disaster Relief Package

Three months after the Northeast was devastated by Hurricane Sandy, the most costly natural disaster to have hit the United States since Hurricane Katrina, President Obama has signed the $50.5 billion Sandy relief package into law. This bill provides emergency relief across 12 states to victims and their communities with funds slated to help rebuild mass-transit systems and highways, housing and other immediate disaster recovery needs in the affected areas. Also contained within the bill is money to replenish the disaster relief aid fund within the Federal Emergency Management Agency (FEMA).

More information on the Sandy Relief Bill can be found on CBSNews.com.