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Transcripts For BLOOMBERG Bloomberg Markets Americas 20170829

There is a situation in texas and Mark Crumpton is with us. Mark Tropical Storm harvey is not letting up on houston. The fourth largest city in the United States has been inundated with floodwaters and an additional 20 inches of rain is in the forecast. Has drifted into the gulf of mexico and set to crash the shore of the texaslouisiana border. To pop houston reservoirs are overflowing two houston reservoirs are overflowing. They are both at record high levels due to days of heavy rain. Army corps of engineers officials have been releasing water from both but it wasnt enough to counter the rain, overspill floodwaters ways. Officials say more homes and streets will flood as a result. President trump is promising texas will get emergency disaster aid quickly. He says there will be a very Rapid Reaction from congress, in his words. There are signs that might be a political fight over the money. A Top Committee member suggests he wants to cut spending to pay for the response to harvey. Ref

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