Statement by the Press Secretary: President Signs Community Disaster Loan Act of 2005, Authorizes Airport Improvement Grants

On Friday, October 7, 2005, the President signed into law:

S. 1786, which authorizes the Department of Transportation to make emergency airport improvement project grants for capital and operating costs related to damage from Hurricanes Katrina and Rita in Louisiana, Mississippi, Alabama, and Texas; and

S. 1858, the "Community Disaster Loan Act of 2005," which authorizes funds for community disaster loans to assist local governments that suffer substantial revenue loss as a result of a major disaster.