9/11 fund running out of money for those with illnesses |

9/11 fund running out of money for those with illnesses

The Associated Press
AFP/Getty Images
(FILES) In this file photo taken on September 11, 2001, a man stands in the rubble, and calls out asking if anyone needs help, after the collapse of the first World Trade Center Tower in New York. - Seventeen years later, more than 1,100 victims of the hijacked plane attacks on the World Trade Center have yet to be identified. But in a New York lab, a team is still avidly working to identify the remains, with technological progress on its side. Day in, day out, they repeat the same protocol dozens of times. (Photo by DOUG KANTER / AFP FILES / AFP)DOUG KANTER/AFP/Getty Images

NEW YORK — 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.