A White House official says the president has requested $60.4 billion.
In a joint statement on the matter, Governor Andrew Cuomo of New York and New Jersey Governor Chris Christie say this money will help their states recover, repair, and rebuild better and stronger than before.
They also say it will include funding to invest in efforts that will protect the region from impact of storms like Sandy.
Both governors recently went to Washington to lobby lawmakers for federal funds.
President Obama's requested amount fell short of the governors' requests by about $17 billion.