The measure temporarily increases Federal Emergency Management Agency's borrowing authority for the National Flood Insurance Program to pay out claims to those who have federal flood insurance.
The measure passed the House Friday on a 354-67 vote and the Senate approved the measure unanimously on a voice vote.
FEMA had said the insurance program likely would run out of money this week. Nearly 140,000 Sandy-related flood insurance claims have been filed, FEMA said, with most still not paid or not paid in full.
The House action came after Speaker John Boehner, R-Ohio, was heavily criticized by Democrats and Republicans for not holding a vote on a Senate-passed $60 billion relief package earlier last week.