. >> some homeowners have already seen flood insurance rates increase since superstorm sandy five years ago. one insurance expert tells us homeowners in low-lying areas who do not put their homes on facilities could see rate hikes between 15% and 25% in the long term. >> i think these storms put pressure on everyone to elevate their homes and have homes that are going to be safe from future flood damage. >> many homeowners saw deductibles for wind damage go up after sandy. that could continue for folks down the shore and inland, as well. >>> good morning. i'm first alert meteorologist erika martin. we're talking about tropical storm jose expected to become a category-1 hurricane in the next couple of hours and expected to make landfall. interestingly enough, jose has given us a hard time simply because last week models were showing that jose would make landfall and then everything backed off. now models are trending toward the landfall somewhere around new jersey, possibly southern new england area. be sure to download the free nbc10 app and follow us. we always post facebook live with

both irma and harvey will make history, joining superstorm sandy, hurricanes andrew, even hurricane katrina, as tw the costliest hurricanes on the record. the hope is the worse is over especially since a third they had, hurricane jose remains on the horizon. for "nightly business report" i'm morgan brennan. >> it's not just the cost, but also hurricane harvey. the one-two punch could ding the broader u.s. economy for billions. steve leashman has the story. >> reporter: initial estimates of these two monstrous storms being paid at 150 to 200 billion. moody's annual iics put it, and irma was bagged at 62 to 64. it was unfeared, for example that moody's included the flooding like in jacksonville or charleston. in the totals are some 20 to 30 billion of lost economic output, people who can't get to work and power outages. moody's shaved the third quarter gdp forecast for the entire nation by a half point you but expense a reconstruction rebound in the fourth quarter. that depends on the timing of insurance payments and government assistance, eastern the ability to find enough construction worke

then you have superstorm sandy, and the program is now -- then it was about $24 billion in debt. last year where the major storm of note was hurricane matthew and a bunch of significant rain events, they still had to borrow money from the treasury, and now it is $24.6 billion in debt. if you look at harvey, harris county where houston is located has about 250,000 flood insurance policies. the insurance value is about $70 billion. obviously, it is not going to be a total loss on all those policies. even if it was just 15%, that is a $10.5 billion hit to the program. that is more than we got from sandy. it is not just that the program expires september 30, after sandy they set of borrowing limit of $30 billion. they may have to actually increase the borrowing limit as well to accommodate the claims from harvey. host: let's go back to the phones. we have marked from new york. good morning. caller: thanks for c-span. i want to say that i survived hurricane sandy. i lost my roof, but the insurance paid for it. homeowners insurance, so i did not use any federal tax dollars. i just want

homeowners have seen flood insurance rates increase since superstorm sandy five years ago.ne insurance expert says homeowners who don't put their houses on facilities could see rate hikes between 15% and 25% in the long term. >> i think these storms put pressure on everyone to elevate their homes and have volumes that are going to be safe from future flood damage. >> many homeowners saw deductibles for wind damage go up. the trend could continue for folks along the coast and inland, as well. >>> almost 4:10 on your friday. cool for some, but comfortable overall for people. >> yeah. it is starting to feel more like summer once the sun comes up. meteorologist erika martin has more. >> here's the deal, fall is just a week away. september 22nd, first day of fall. still feels like summer. we will take it. now we were talking about irma. now we're tracking jose. currently a tropical storm. it looks like models are now pushing it, trending it toward the -- toward landfall. we're tracking this for you closely. you'll have to follow us on social media. there's a lot going on. we'll

it was damaged in superstorm sandy. he's not taking chances even with hurricane jose expected to stay well off the shore. >> we're not going to be here -- we can let it go and take things upstairs. i brought them upstairs, beach chairs, things that might be floating in the water like last time. >> reporter: coming up in the next half hour, while a lot of people are moving away from the beach and leaving the beach, not going in the water when conditions are like they have been and as we're predicting the next few days, we did found people literally rushing to the beach and jumping in. you'll hear from them coming up at 5:30. reporting live, nbc10 news. >> make sure you have the nbc10 app to keep track of jose on the go. sign up to get severe weather alerts for your neighborhood. >>> 5:03. in montgomery county, teachers in the methacton school district are on strike, meaning no classes for 5,000 students. emergency contract talks in eagleville last night ended without a deal. we're told progress was made on salary increas

that is second the $16 billion paid off after katrina and top the billion paid off superstorm sandy t. that is look at the headlines we're chasing today. >> coming up next, senator bob men nez dez on trial for corruption. new details about the girls at the center of the controversy. >> we have the weather. meteorologist: hi, bill. 36 to 46 hours of unsettled weather on the way. that is showers and thunderstorms and temperatures will stay on the warm side. we'll have a lact the forecast, coming up. bill: welcome back to chasing news. am bill spadea. we'll talk to one of the candidates. i am not so sure he has chance to win. let the you. he is making one interesting race. first i want to talk about mayoral politics in the garden state. jersey city mayor steve phillips the first politician in the state we know of is taking advantage of the beast debacle. take a look that video. >> and they used to say politics in new jersey is no day at the beap. sudden lit was. instead of more negative politics this is the way to show you. three new schools and farm ear markets in every neighborhoods. >

. >> in years past we regenerator northeast area four superstorm sandy now it is our turn we are pleasede could assemble the work force that continues to grow. >> as soon as though winds die down to the point so for what they think would be an extensive damage over the state. >> more than 185,000 without power in florida as hurricane irma is on the path toward the united states. >> we will be tracking this all night long and will be back with much more. . >> as we've mentioned the national weather service said the hurricane force winds gusting in the florida keys not expected to hit and tell later sunday morning but 85,000 homes and businesses are already without power and now we will go to key largo where the full impact is still hours away but obviously it is significant already. >> yes. we are feeling those significant winds they are coming in the past for nearly 12 hours the power is pretty much out with a significant portion but nobody is on the road one of the viewers asked about though windham what we have been checking in between consistently but then we get a test that comes thr

. >> peco said superstorm sandy and the 2014 ice storm prepared crews to help in the disaster. >>> washington working to make sure relief supplies reach the storm victims. president trump met with his team at camp david to ensure funds and aid get to where they're going. fema almost ran out of money after hurricane harvey, but congress approved another $15 billion in aid. >> going to cost a lot of money. right now we're worried about lives. >> congress will likely have to come up with more money by mid-october to help those who are uninsured cover their losses. cost estimates for harvey and irma are already in the hundreds of billions of dollars. >>> this morning the storm has passed tampa. there it still the threat for the storm surge along the gulf coast. that's when all the water sucked out to sea comes rushing back in. >> nbc10 national correspondent sarah dollof live in tampa. give us an update of the conditions this morning. >> reporter: good morning. overnight swept across the tampa/st. petersburg area, home to some three million people who are now waiting for daylight to see how their

we saw in superstorm sandy a crane go down, that's a frightening proposition. this is a high-rise city, and the expert was telling us there's so many buildings under construction that means there's so many cranes up there. so that's something to keep an eye on. all right, so that's where brian and i are here down in south florida. as the governor told us, as the storm track has shifted and reality has become more imminent with hurricane irma, as it's gone from an if to a when and a how, the whole state is effected from all the way down here in the southern tip to all the way up north in gainesville. that's where we have kaylee hartung. what have you seen in a shift in priorities and the attitude of people up there, kaylee? >> chris, increasing concern for people in this area. there are more than a dozen shelters open. to really understand the concern it's best to come here with anthony, the director here from the university of florida health keeping this shelter open for those elderly and special needs patients who need help. there's now a mandatory evacuation

. >> reporter: that's what happened as irma passed through puerto rico, though during superstorm sandy in one collapsed. from sky to sea, first responders are bracing for the worst. with a storm surge that could reach ten feet, the height of our drone, the national weather service says buildings could be washed into sea. some could be uninhabitable for weeks, even months. 25 years ago buildings were flattened by andrew's storm surge and powerful winds. now south florida's new building codes will be put to the test. so will critical operations like hospitals. during harvey, some were forced to evacuate as floodwaters rose, but here in miami the largest hospitals plan to stay open. >> we're expecting the worst. we've got a lot of hurricane andrew veterans here. this is bigger, broader, it is a big unknown. >> reporter: this weekend 9 million could lose power. the electrical grid could be crippled for weeks. two nuclear plants preparing to shut down. dire forecasts predicting disaster and now a region scrambling to stay on its feet. tonight at construction sites all across this city, crew

at the jersey shore, many homeowners have seen their flood insurance rates go up since superstorm sandy five years ago. one nurse expert says homeowners who don't put their homes on stilts could see rate headaches of between 15 and 25% in the long-term. >> so if you have a home that's low to the ground, you're going to continue to get rate increases, so that that home pays a true risk rate. and that rate will some day become unaffordable. >> heist says after sandy, many homeowners also saw their deductibles for wind damage go up. he says we might see that trend continue now for people along the coast and inland, as well. >> the remnants of irma have exited the delaware valley. this video comes to us from outside the crayola factory in easton, where it was a warm, breezy afternoon. here in philadelphia, we saw temperatures in the low 80s today. glenn "hurricane" joins us. >> we had some isolated, tiny showers now in bucks county and that's headed into north jersey. the futurecast shows that generally speaking, we have dry weather for most of us during the night tonight. a few showers acr

. >> as you know, republicans complained after superstorm sandy a some of the relief funds were divertedo other projects. is there any way to guarantee all of this aid goes toward harvey and the aftermath? >> i would doubt there's any way to guarantee it. you have a number of agencies with responsibilities here. you don't know what transportation or sba is going to do. there's no way to guarantee it. i think everybody's going to deal with the situation with goodwill and i'm not as concerned as i am about getting all the assistance to those people and we need to be on the job very quickly. >> we're talking about a lot of money here, as you know. $7.85 billion immediately. can you put in perspective the impact of these numbers on the budget? >> well, what we're talking about, the federal budget is roughly $4 trillion. as a percentage of the federal budget, it's not all that much. when we're talking about the money that congress actually controls, which is what we call discretionary spending, that's everything but social security, medicare, medicaid and interest on the debt, we're tackilkin

affectedr of people and the size of the disaster far outweigh katrina or superstorm sandy.cian says congress should put politicsand aside to make sure the victims get the help they need. the nation has repeatedly said must has said congress decide by september the 29th. nafta talks focus on mexican wages. president trump has threatened to quit nafta unless the two partners agree to a major overhaul. the eu's chief brexit negotiator seems to be running out of patience with the u.k.. saidbc says that barnier the british people must be of leaving the costs the eu and the serious consequences of the split. resolving start by the issues on the table. then we will think about our relationship. we think we need to have a very strong trade relationship with the u.k. adam the eu.- and this is bloomberg. ♪ haidi: thanks for that. getting back to our top story, north korea has made its most powerful nuclear test yet. i want to start off with you. what is the latest and give us an indication of what the mood is? it is seemingly like business as usual. we are seeing tour groups ready to

could bring winds topping 50 miles an hour, waves up to 15 feet to areas that were ravaged by superstorm sandy in 2012. >> we were concerned yesterday with people just walking along the shoreline. >> reporter: many beaches banning swimming and surfing altogether. >> you never know what kind of surprises are in store. we're going to prepare for the worst and hope for the best. >> and linzie janis is live tonight from the jersey shore. and linzie, i know they're worried about rip currents, flooding. where you are, they are worried about erosion? >> reporter: that's right, david. the last time the federal government replenished this beach was right after sandy. the mayor here tells us this community and others are in desperate need of reinforcement in order to protect homes and businesses here. david? >> linzie janis with us live tonight. linzie, thank you. >>> in the meantime, the next threat, of course, it is major, hurricane maria. as ginger said, growing into a cat 4 earlier today. sat line images showing the giant storm. the eye churning there. some of the same island s hit b irma could get

county, winds and waves whipped up by jose damaged a fishing pier that was rebuilt following superstorm sandy. a support beam and filings have been knocked tloo eed loose at f the pier in bell mawr. officials will assess damage once the storm has passed. >>> this morning, hurricane maria will swipe by st.croix and the u.s. virgin islands before it barrels toward puerto rico. the category-5 storm with winds of 175 miles per hour is expected to make landfall there later today. >> actually, it's hitting skrt. croix, and the officials are warning people to evacuate or "you are going to die." maria is battering st. croix right now, getting hit with the strongest part of the hurricane. this is video taken as the storm approached. the person who took the video said it was nothing like they'd ever seen. >>> and we're hearing from a bucks county woman who was stuck in puerto rico at mclaughlin from ben salem. she and a friend from doylestown had to evacuate their hotel and move to higher ground. >> caller: pretty worried about just the high winds and how our windows are going to sustain and if our car

schumer said during superstorm sandy, many people in new york and new jersey couldn't make phone calls because cell foers were damaged -- towers were damaged. >>> at the jersey shore, a new woman is waking up as the new -- a woman is waking up as the new miss america 2018. >> here's the moment where she was crowned. >> miss north dakota -- [ cheers ] >> you saw that moment. north dakota beat utah 50 contestants to take the title in atlantic city. her parents. the new miss new jersey, rather, miss pennsylvania, did make it into the top ten. miss new jersey was even in the top three. >> always a big moment. >> huge. >>> now for more at 5:00 a.m. -- >> damaging storm. him brings flood, high winds, and dangerous surf to florida. we're tracking where the storm is now and what deficit reduction is left in her path. -- what destruction is left in her path. >>> closed for business. a first look unemployed miami's airport after irma leaves her mark and how long it should be before travel resumes. >>> remembering 9/11. how people in our area and around the country will honor the lives lost of th

similar to what we did after superstorm sandy first working to make sure all of the residents here have properly applied to get assistance through. that where they can start to recover process themselves. do you do you are you just looking at you know with your experience in these disaster zones are you as a probably go to years ago i know that you worked a lot into haiti after the you know the flooding in the storm hit many years ago bear really is that are we looking at the same kind of damage in the same kind of length of recovery. and i think it's going to take months just to get the electric and water back reconnected here it's probably going to take years to get back to the level of where the sun once before just because it's the logistics are so difficult everything has to be brought in here and there's no airport style and that we're there's one helicopter pad and one clinic that it's heavily damaged so it's going to six flights in time to get that infrastructure back on speaking of infrastructure what's the government situation like there are there is there is there are there i

we've had superstorm sandy. we've learned from both. among the things that we learned were that the coordination between epa and the corps of engineers wasn't necessarily what it could have been or should have been. coordination with state and local officials probably could have been done better. we've addressed those to the agency. presumably this time around you'll see better coordination. most likely we'll be coming in and seeing whether in fact -- >> are you prepared to assess that? and the difference on whether or not those recommendations are followed? >> i can't commit that they're going to. i expect that we will. some mr. pa lone's question earlier where resources are constrained, but it would be a high priority for us. >> this is kwae fa question for of you. if you were to pick a number one barrier for you to do your job as epa involved in either coordination or protecting superfund sites or protecting water infrastructure, et cetera, so that they're not contaminated, what would that barrier be? if you were to pick the biggest

request was simply a down payment and the number of people affected far outweigh katrina or superstorm sandyeven mnuchin says congress should combine initial aid relief with an increase in the u.s. debt ceiling, saying lawmakers need to put policy aside to ensure that the victims of harvey get the help they need. it is intended to avoid a standout they could rattle the market. stephen mnuchin repeatedly said congress must raise the debt ceiling by september 29. the man who predicted the 2008 financial crisis also forecasted the damage in india. he said he was asked about de-monetization when he was still rbi governor. he saww book he said potential long-term benefits, but felt the short-term economic hit would outweigh them. he also wrote that he made his few known in "in no uncertain terms." global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. david: thank you. right, we will discuss the implications of north korea's latest nuclear test in the next hour. we will be joined by james mccormick of finch in a hong kong studi

nearly five years after superstorm sandy killed 117 people and caused more than $60 billion worth of age in the north east. thousands of families that survived sandy say they were then hit by a second wave of fraud. >> i was like, "how can you tell me that you're not going to cover this? that i'm not going to get the full amount of my insurance?" i says, "you got my payments every month." >> alfonsi: as harvey's survivors face a difficult future, we look back at hurricane sandy, and why so many families didn't get the help they deserved. >> where is the motor, in here? h

haggerty, he's also a former fema director, and most recently helped new york city recover from superstorm sandy. does fema, does the federal government have the band width to handle two recoveries at once >> they do this is something the agency organizes all year round. and the fact that, you know, all disasters begin and end at the local level. the federal government can come in to support multiple events. >> if they need more people, where do they get them is it a point at which you call in the national guard, but the army, the regular forces >> fema has a number of unique authorities that allow them to size, according to whatever the need might be. they have a very powerful mission assignment authority, which allowing them to essentially compel and pay for other government entities to come in and do disaster work, both on the response and the recovery they also have relationships with private nonprofits, both at the voluntary level, you know, nationally and locally, and the ability to actually source contractors through their technical assistance contracts. >> what can people do, mark? >> as

you had superstorm sandy here in new york where there has been plenty.rt growth policies that didn't seem to help much. we need to put this in context. this was a freakishly intense and slow-moving storm. there was going to be a lot of devastation no matter what. paul: the federal flood understand program which is in trouble already, will it take a big check to bail this out? >> it will. i hope they put to real reforms in there. this has been in place since the 60s, it's using taxpayer-backed funding to provide subsidized understand giving people incentive to build in flood-prone areas. paul: do you want risk-based pricing for insurance? >> i know this is a tough time to argue for spending restraint. but everything they are doing without government is an example of what can be done without government. paul rsh the cost of rebuilding will be easier and cheaper because they have a resilient economy based on oil and gas and fewer zoning restrictions. president trump makes his pitch for tax reform. can congress deliver a bill before the end of the year? >> i

. -- harvey relief with other cuts. .his has been more bipartisan before the house acted on superstorm sandy, governor christie called out speaker boehner for not acting. that was an embarrassment to the speaker. they subsequently did pass a bill. right now, we are not seeing the type of partisanship on disaster relief. there will be fights over this, especially because it is just one of many bills that will probably pass on harvey. host: president trump tweaking late last night, big week coming up and less than a minute ago, congress, get ready to do your job, daca. the relationship between president trump and congressional leaders on daca. walk us through what we expect to see and some of the history. guest: for most of the august recess, donald trump was going after members of his own party, including, most notably, mitch mcconnell, not getting health care done and blaming him for that. is donaldnnell's wife trump's secretary of transportation, also a high priority administration that probably will get kicked into next year, a transportation bill. this will be awkward. congressional leade

you had superstorm sandy here in new york where there has been plenty.mart growth policies that didn't seem to help much. we need to put this in context. this was a freakishly intense and slow-moving storm. there was going to be a lot of devastation no matter what. paul: the federal flood understand program which is in trouble already, will it take a big check to bail this out? >> it will. i hope they put to real reforms in there. this has been in place since the 60s, it's using taxpayer-backed funding to provide subsidized understand giving people incentive to build in flood-prone areas. paul: do you want risk-based pricing for insurance? >> i know this is a tough time to argue for spending restraint. but everything they are doing without government is an example of what can be done without government. paul rsh the cost of rebuilding will be easier and cheaper because they have a resilient economy based on oil and gas and fewer zoning restrictions. president trump makes his pitch for tax reform. can congress deliver a bill before the end of the year? >>