9/11 fund running out of money for those with illnesses
NEW YORK (AP) - The compensation fund for victims of 9/11 is running out of money and will cut future payments by 50 to 70 percent.
September 11th Victim Compensation Fund special master Rupa Bhattacharyya announced the changes Friday and said she was "painfully aware of the inequity of the situation."
Nearly 40,000 people have applied to the federal fund for people with illnesses potentially related to being at the site. Nearly $5 billion in benefits have been awarded out of the $7.3 billion fund.
Officials said Friday that any pending claims will be paid at 50 percent of their prior value. Valid claims received after Feb. 1 will be paid at just 30 percent.
The fund is scheduled to stop taking claims in December 2020.
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