Hurricane Sandy is speeding toward the East Coast, and President Obama has proactively declared a State of Emergency in New York, the District of Columbia, Connecticut, Maryland, Massachusetts, New Jersey, Pennsylvania, and Rhode Island. This will enable federal aid to support the cities during this time of need. Several states have declared their own State of Emergency, as well.
The Federal Emergency Management Agency (FEMA) and the Department of Homeland Security will work together to assist cities as needed. Members of the National Guard are standing ready in Connecticut, Delaware, Massachusetts, New Jersey, New York, and Virginia. The Red Cross has set up areas in multiple states where victims of Sandy can find "a safe place, a warm meal and emotional support." (RTT News).
Hurricane Sandy is expected to impact some 700 miles of coastline before moving inland. Many states have closed schools, ceased public transportation, and recommended that people either stay home or evacuate to higher ground, away from the shore. Even the New York Stock Exchange (NYSE) and the NASDAQ market are closed today, Monday; they're prepared to remain closed Tuesday, as well. The NYSE has not been shuttered because of weather since 1985, when Hurricane Gloria struck New York.
The impact of a super storm such as Sandy reverberates for months after the rain stops and the seas recede. Tax relief is almost certain to be offered. Check back for current news.
