Baltimore bridge collapse a ‘national economic catastrophe,' says Maryland governor
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The collapse of Baltimore's Francis Scott Key Bridge on Tuesday after being struck by a large cargo ship is described as a 'national economic catastrophe' by Maryland Governor Wes Moore. The bridge collapse has choked off access to the Port of Baltimore, one of the busiest ports in the U.S., and is expected to impact the U.S. economy by snarling supply chains for certain goods like cars. The wreckage is blocking a primary access point for the port, which handles a record 1.1 million containers of cargo and nearly 850,000 shipments of cars and light trucks annually. The operation to remove the ship, clear debris, and reopen the channel is underway, but there is no timeline for completion. The U.S. government has provided $60 million in funding to clear the wreckage, and President Joe Biden intends for the federal government to pay for the entire cost of rebuilding the bridge. The Small Business Administration is offering low-interest, long-term loans of up to $2 million to local small businesses affected by the bridge collapse.

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https://www.cnbc.com/2024/03/31/baltimore-bridge-collapse-a-national-economic-catastrophe.html