Prices had risen thirty cents since the previous day, and would rise an additional twenty cents before the day was over. Oil production Sign showing gas prices in front of Sheetz in Mount Jackson, Virginia, on August 31, 2005, just as Hurricane Katrina began to make its mark on the price of gasoline. The act was later reinstated on October 26, 2005, amid political pressure from both Democrats and Republicans in the United States Congress. The concerns over these actions were primarily that allowing the government to pay less than the prevailing wage would contribute to increased poverty in the region, which already ranked among the lowest in the nation in terms of household income. There was also some concern when, on September 8, 2005, President Bush temporarily suspended the Davis-Bacon Act in the affected areas, which allowed for contractors working on Federal construction projects to be paid less than the prevailing local wage. Before the storm, the region was already one of the poorest in America with one of the highest unemployment rates. The lack of revenue will limit the resources of the affected communities and states for years to come. No paychecks were being cashed and no money was being spent, and therefore no taxes were being collected by local governments. Hundreds of thousands of residents of southern Louisiana and Mississippi, including nearly everyone who lived in New Orleans, were left unemployed. Hicks, estimated the total economic impact to Louisiana and Mississippi may exceed $150 billion. Before Hurricane Katrina, the region supported approximately one million non-farm jobs, with 600,000 of them in New Orleans. This does not account for damage to the economy caused by potential interruption of the oil supply and exports of commodities such as cotton. In 2006, the Bush administration sought over $100 billion for repairs and reconstruction in the region, making the storm the costliest natural disaster in US history. The economic effects of Hurricane Katrina, which hit Louisiana, Florida, Texas and Mississippi in late August 2005, were far-reaching.
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