The White House is currently looking into an emergency funding package for the Francis Scott Key Bridge and the Port of Baltimore.

Some estimates are that Congress will appropriate as much as $1 billion to help rebuild the bridge and aid the Port of Baltimore, which is already suffering the economic impact of the Dali freighter crash.

The port, according to Bloomberg News, could be closed for up to six weeks.

Why is the Port of Baltimore So Important?

Federal and state officials have highlighted the urgent need to rebuild the bridge and ensure that the normal operations of the Port of Baltimore resume.

The port is one of the busiest in the country. Transportation Secretary Pete Buttigieg believes it is "likely" that the administration will ask Congress to add to some emergency funds. "Infrastructure is, or at least ought to be a bipartisan priority," Buttigieg declared.

The Biden administration reportedly can tap into multiple emergency funds that can be quickly administered but that would likely require congressional action.

"Right now at the federal level, we're actively exploring the use of 'quick release' emergency relief funds in partnership with Secretary Buttigieg and the urgent deployment of congressionally approved funding," said Rep. David Trone (D-Md.), who sits on the Appropriations Committee.

One such fund is controlled by the Federal Highway Administration.

The Transportation Secretary stated on Wednesday that the bipartisan infrastructure law authorized funds for the emergency relief fund which currently sits at around $950 million.

But as Buttigieg also said, the fund is used for projects nationwide. The Community Development Block Grant Disaster Recovery program, which is administered by the Department of Housing and Urban Development, is the other fund.

These funds can be used when the president declares a disaster in state or local jurisdictions.