Congressmen unveil bill to repair Baltimore bridge with federal government covering 100% of costs

[mystery-ak]

Congressmen unveil legislation to repair Baltimore bridge with federal government covering 100% of costs
By
Annabella Rosciglione
April 11, 2024 8:23 pm
.

Members of Congress representing Maryland unveiled legislation to fund a replacement for the Francis Scott Key Bridge, which collapsed in Baltimore last month after being struck by a cargo ship.

Under the Baltimore BRIDGE Relief Act unveiled Thursday, the federal government would pay for the entire bridge replacement, something President Joe Biden promised in the wake of the tragedy. The legislation was introduced by Sens. Ben Cardin (D-MD) and Chris Van Hollen (D-MD) alongside other representatives in the House.

“The sudden collapse of the Francis Scott Key Bridge was a human tragedy and an economic tragedy – for Maryland and the nation. As we continue to mourn the loss of life and this icon of our skyline, we can simultaneously begin work to heal the wounds created by this disaster. A new bridge can be a symbol of hope and resilience,” Cardin said.

The federal government released $60 million in emergency relief funds after the collapse. It is currently unclear how much the recovery and rebuilding efforts will cost.

more
https://www.washingtonexaminer.com/news/2963592/congressmen-unveil-legislation-to-repair-baltimore-bridge-with-federal-government-covering-100-of-costs/

[corbe]

   The US Taxpayer is gonna bail out another Insurance Company, sure as $hit.

Who Will Pay for the Baltimore Bridge Collapse?

Disputes over liability and the cost of claims could take years for insurers to resolve and result in billions of dollars in payouts.

By Jenny Gross, Michael Forsythe, Emily Flitter and Peter Eavis
April 5, 2024

On the day the Francis Scott Key Bridge in Baltimore collapsed, President Biden said the federal government would pay the “entire cost” of rebuilding it, which some suggest could run to more than $1 billion. Washington will foot the bill so the bridge and nearby port can reopen “as soon as humanly possible,” he said.

The hope is that much of the cost will be recouped from insurers, but determining who is ultimately on the hook for the deadly disaster is set to become one of the messiest and most expensive disputes of its kind. Rebuilding the bridge, repairing the cargo ship that hit it and compensating companies for the disruption at one of the nation’s busiest ports may take years to resolve.

“We’re not going to wait,” said Mr. Biden, who plans to visit Baltimore on Friday to survey the damage.

The legal wrangling began this week when the shipowner, Grace Ocean Private Ltd., and the ship manager, Synergy Marine, both based in Singapore, filed a petition in U.S. District Court to limit their liability to $43.7 million. They cited an 1851 law that allows a shipowner to cap financial damages mostly to the value of a ship after a crash, if the owner is determined not to have been at fault.

Claims against the ship’s owner and manager must be filed to the federal court in Baltimore by Sept. 24, a judge said.

Experts in maritime law and insurance said determining liability was particularly complex because of the many parties involved, from shipowners in Asia to insurers in Europe to companies around the world that move goods in and out of Baltimore. Numerous lawsuits are expected, and the six deaths caused by the disaster add a grim layer of complications.

“You can’t just necessarily settle with one party and make it go away,” said Franziska Arnold-Dwyer, a senior lecturer in insurance law at Queen Mary University of London.

PAYWALL that I can't break

<..snip..>

https://www.nytimes.com/2024/04/05/business/baltimore-bridge-cost-insurance.html

[HikerGuy83]

   The US Taxpayer is gonna bail out another Insurance Company, sure as $hit.

Who Will Pay for the Baltimore Bridge Collapse?

Disputes over liability and the cost of claims could take years for insurers to resolve and result in billions of dollars in payouts.

By Jenny Gross, Michael Forsythe, Emily Flitter and Peter Eavis
April 5, 2024

On the day the Francis Scott Key Bridge in Baltimore collapsed, President Biden said the federal government would pay the “entire cost” of rebuilding it, which some suggest could run to more than $1 billion. Washington will foot the bill so the bridge and nearby port can reopen “as soon as humanly possible,” he said.

The hope is that much of the cost will be recouped from insurers, but determining who is ultimately on the hook for the deadly disaster is set to become one of the messiest and most expensive disputes of its kind. Rebuilding the bridge, repairing the cargo ship that hit it and compensating companies for the disruption at one of the nation’s busiest ports may take years to resolve.

“We’re not going to wait,” said Mr. Biden, who plans to visit Baltimore on Friday to survey the damage.

The legal wrangling began this week when the shipowner, Grace Ocean Private Ltd., and the ship manager, Synergy Marine, both based in Singapore, filed a petition in U.S. District Court to limit their liability to $43.7 million. They cited an 1851 law that allows a shipowner to cap financial damages mostly to the value of a ship after a crash, if the owner is determined not to have been at fault.

Claims against the ship’s owner and manager must be filed to the federal court in Baltimore by Sept. 24, a judge said.

Experts in maritime law and insurance said determining liability was particularly complex because of the many parties involved, from shipowners in Asia to insurers in Europe to companies around the world that move goods in and out of Baltimore. Numerous lawsuits are expected, and the six deaths caused by the disaster add a grim layer of complications.

“You can’t just necessarily settle with one party and make it go away,” said Franziska Arnold-Dwyer, a senior lecturer in insurance law at Queen Mary University of London.

PAYWALL that I can't break

<..snip..>

https://www.nytimes.com/2024/04/05/business/baltimore-bridge-cost-insurance.html

But we'll build it back. 

Nothing like setting ourselves up for another fall.

They never learn. 

Maybe they should build something else or a number of something elses's so that the one bridge can't bring a country to it's knees. 

Biden is a jackass.

[Fishrrman]

The "costs" of a replacement bridge (or tunnel) are -- as of yet -- unknown.

[DefiantMassRINO]

Big mistake ... this is how Boston's Big Dig became a $20 billion leaky tunnel.