New Jersey leaders secure millions in loan forgiveness for towns buried in debt

NEW JERSEY (WABC) -- New Jersey congressional members were able to secure millions of dollars of loan forgiveness for towns buried in debt.

Community disaster loans were issued after Superstorm Sandy to help cities and towns recover from the storm's devastation.

Nineteen New Jersey municipalities owed more than $25 million.

The loan forgiveness was included in the federal government's operations bill that the House passed and President Joe Biden signed last week.

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