CBS News
“Absolutely not”: Top U.S. border official says disaster funds have not been diverted for migrant care
Nogales, Arizona — The U.S. government is “absolutely not” diverting hurricane and disaster relief funds to subsidize the care of migrants crossing the southern border, the top Customs and Border Protection official told CBS News in an exclusive interview.
Troy Miller, a longtime career official who has led CBP since 2022, strongly refuted false suggestions amplified by former President Donald Trump and other Republicans that federal disaster aid has been impacted by a government program that reimburses organizations assisting migrants processed at the U.S.-Mexico border. That effort, created by Congress and known as the Shelter and Services Program, is a joint initiative by CBP and the Federal Emergency Management Agency, or FEMA.
The inaccurate claims about the Biden administration using FEMA’s disaster response funding to process or resettle migrants have surfaced as communities in North Carolina, Florida and other states reel from hurricanes Helene and Milton.
Asked if there was any truth to those claims, Miller responded, “Absolutely not. [The] Shelter and Services Program is authorized, independently funded by Congress. It has nothing to do with the disaster relief funds.”
Pressed further if any disaster recovery funds are being diverted towards the Shelter and Services Program for migrants, Miller gave a one-word response: “None.”
Miller also said CBP is assisting search-and-rescue efforts in the aftermath of Hurricane Milton in Florida, where the agency has a large footprint. He said employees from the agency’s three main branches — U.S. Border Patrol, the Office of Field Operations and Air and Marine Operations — were ready to assist those affected by the powerful storm.
“The search-and-rescue teams will go surge into specific locations, get as close to the storm as they can, then they’ll actually respond to those requests for rescue,” Miller said.
The false claims about FEMA and migrant funds
The false and misleading claims about FEMA’s disaster response funding gained steam online following the devastation caused by Hurricane Helene, particularly in western North Carolina.
At a rally in Michigan earlier this month, Trump accused the Biden administration of stealing FEMA money for immigration purposes. “They stole the FEMA money, just like they stole it from a bank, so they could give it to their illegal immigrants,” he said.
Trump’s running mate, Ohio Sen. JD Vance, has also sought to link the federal government’s response to the hurricanes — and its effectiveness — to the migrant care reimbursement funds.
The Biden administration, Vance claimed on Fox News, “has turned FEMA effectively into an agency that helps to resettle and helps to deal with illegal immigration.”
The FEMA and CBP migrant care fund, however, is a program created by Congress, not the Biden administration. Congress first started allocating money for this purpose in fiscal year 2019, during the Trump administration.
The congressionally authorized program to reimburse those helping migrants began in fiscal year 2019 as part of FEMA’s Emergency Food and Shelter Program. In fiscal year 2023, Congress replaced that fund with the current Shelter and Services Program. It is funded through CBP and managed by FEMA, according to the Congressional Research Service.
Both iterations of the fund have allowed organizations and jurisdictions along the southern border and in interior U.S. communities receiving migrants to get reimbursed for their efforts to house, feed and otherwise assist those released from federal immigration custody. The money is not available to migrants who enter the U.S. illegally without turning themselves into federal officials.
The funding allocated by Congress for the migrant care grant program is a fraction of the money appropriated for FEMA’s disaster relief efforts. For fiscal year 2024, for example, Congress set aside more than $40 billion for FEMA’s disaster response fund. In comparison, the agency said last month that it would provide $641 million in fiscal year 2024 to reimburse those sheltering and assisting migrants.
No money from the FEMA disaster relief funding pool has been diverted towards the migrant care reimbursement initiative, the agency has said.
In 2019, the Trump administration did notify Congress that it would divert funds from different parts of the Department of Homeland Security — including FEMA disaster relief money — towards its immigration policies.
The diverted FEMA disaster aid, the Trump administration told Congress at the time, would be used to construct facilities along the U.S.-Mexico border to hear the asylum claims of migrants placed in the so-called “Remain in Mexico” program.
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
Getty Images
Gold has been a standout performer in the financial markets this year, with prices climbing rapidly and setting new records. At the start of the year, gold was trading at just above $2,000 per ounce, but its value has soared past multiple milestones in recent months, and, today, gold prices hover above $2,650 per ounce. This upward trend has resulted in big rewards for early investors who saw the precious metal as a safe haven in uncertain economic times. Those who got in before prices surged are now enjoying substantial gains.
For investors who have yet to buy gold, though, the current high prices present a dilemma. Many are hesitant to jump in at a time when the price is near a record high and are instead waiting in hopes that prices will retreat, allowing them to purchase gold at a discount. This cautious approach makes sense in traditional investing logic. After all, buying low and selling high is the golden rule. But in the case of gold, waiting for lower prices may not be as wise as it seems.
While it’s tempting to wait for a price drop, the reality is that this gold investing strategy could be fraught with risks — especially right now. Below, we’ll analyze why.
Get started with gold investing today.
3 big risks of waiting for gold prices to fall
Waiting for gold’s price to drop could be a risky bet for the following reasons:
Gold’s price may not drop substantially
One of the primary risks in waiting to buy gold at a lower price is the possibility that the anticipated dip may never happen — or may not be as substantial as you hope. Recent trends in the gold market have shown that while gold’s price may experience short-term fluctuations, these dips have not been drastic. Part of the reason is that gold tends to be highly resilient historically, particularly in times of economic uncertainty, like what we’re facing today. Economic issues tend to push the price of gold higher rather than lower.
Even when gold prices have dipped recently, those drops have been short-lived, bouncing back quickly. In some cases, these dips have been quickly followed by the price of gold reaching new highs. This pattern makes it difficult to predict the market. So, waiting for a significant drop could mean missing out on the chance to buy gold at all. If the price continues to rise — and analysts are already predicting that it will — those waiting for a cheaper entry point could be left empty-handed.
Add gold to your portfolio now.
Your portfolio could be vulnerable without it
Gold has long been considered a hedge against stock market volatility, economic downturns and inflation. And while the stock market has performed well recently, it has experienced heightened volatility in recent months. This matters because when the market underperforms or experiences wild fluctuations, gold tends to shine as a stable store of value. This makes gold an essential component of a well-balanced investment portfolio, providing a level of protection against broader market risks.
If you delay investing in gold while waiting for lower prices, you may leave your portfolio vulnerable to future market shocks, should they occur. Gold provides a critical layer of security during such times, and without it, your portfolio may be overly exposed to short-term market shocks that gold could have helped to cushion.
You could miss out on quick returns
While gold is often viewed as a long-term investment, it also presents opportunities for short-term gains, particularly in today’s rapidly rising market. While the price is currently high, many analysts believe that gold’s price is far from reaching its peak — and some experts predict that it could soon hit $3,000 per ounce or higher. If this upward trend continues, buying now — even at the current high prices — could result in significant profits in the near future.
By waiting for a price drop, though, you may miss out on these potential gains. Market timing is notoriously difficult, and even if gold prices were to dip slightly, the price could quickly rebound, leaving those who waited with no opportunity to benefit from the current rally. Investing in gold now could allow you to take advantage of the potential for short-term profits while also securing a position in a valuable long-term asset. And if gold continues to climb, today’s prices may soon seem like a bargain.
The bottom line
Investing in gold has long been a strategy for preserving wealth and protecting portfolios against volatility, so it makes sense to add it to your portfolio, but if you’re waiting for lower prices to enter the market, that may not be the most prudent approach. The price of gold may not drop substantially and delaying your investment could leave your portfolio vulnerable to stock market fluctuations. You might also miss out on an opportunity for both short- and long-term profits. So, given the current trajectory of gold prices and the uncertain economic environment, now may be the right time to consider investing in gold rather than waiting for a dip that may never come.
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.