Senators still determined to reauthorize flood insurance program

You’ve probably heard this before, but key lawmakers said last week that they still want to enact a long-term reauthorization of the National Flood Insurance Program (NFIP) this year.

“We must reauthorize and strengthen the NFIP and invest in mitigation and floodplain management before disasters happen in communities,” Senate Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, said as he opened a hearing on the program last week. “NFIP is a complex program, with multiple goals and implications for many of the things people care about most – their homes and their communities.”

Congress has been unable to enact a long-term reauthorization of the program since 2017. Efforts to pass such legislation have been hampered by regional and political differences, as well as the general gridlock on Capitol Hill.

The program owes $20.5 billion to the federal government and the Government Accountability Office said there is no realistic plan to repay the debt. There have been discussions about simply cancelling it, but some lawmakers have objected to that plan because it would leave taxpayers holding the bag.


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