Congress Extends National Flood Insurance Program until November 30

The Senate voted 86-12 last week to extend the National Flood Insurance Program (NFIP) until November 30, 2018. The House passed the bill (S. 1182) a week before on a 366-52 vote. Congress extended NFIP without making any reforms, which will eventually be needed in order to place the program on a financially sustainable path and preserve affordability for low- and moderate-income households. NFIP remains $25 billion in debt despite last year’s disaster relief bill, which forgave $16 billion in debt owed by the program.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s