Congressman Tom Cole is joining a bi-partisan effort to bolster rural utilities after a major disaster. The Reinforcing Utility Restoration After Losses (RURAL) Act would open up low-interest loans to rural utility companies to cover qualified losses after a major disaster event. Parts of those loans could be forgiven in certain circumstances.
“Over the past few weeks, both utility companies and communities across the midwestern and southwestern areas of the United States experienced unprecedented challenges and hardships due to severe winter weather,” said Cole. “In response, it is important to ensure utility companies in rural areas do not succumb to their losses and families are not left without power. I am proud to join in introducing this critical legislation that would offer a needed line of credit to power companies facing extreme losses so they may continue serving their customers.”
Cole joins Congressman Rick Crawford of Arkansas in the effort to pass this legislation.
