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.
- 9/11 fund running out of money for those with illnesses
- Trump signs 9/11 Victim Compensation Fund extension
- Huntsville First Responders commemorate 9/11
- Honor Walk in remembrance of 9/11
- Rogersville Volunteer Fire Department honors 9/11 firefighters
- Rise school raises money for playground and scholarship fund
- Study: Some public pensions funds could run dry in downturn
- Huntsville running club raises money for Space Camp scholarship
- 9/11 group to donate $100K to firefighter's family
- Local students born after 2001 learn about 9/11