(Washington, DC) ‒ SmarterSafer.org today released a statement praising House Republican Conference Chairman Jeb Hensarling’s efforts to help reform the National Flood Insurance Program (NFIP) by offering two important amendments during the markup of “The Flood Insurance Reform Act of 2011.” Hensarling proposed two amendments: the first to Strike New Coverage for Business Interruption and Cost of Living Expenses, and the second to phase in actuarial rates.
“We are pleased that Congressman Hensarling offered concrete steps to help improve the NFIP program, which is already $18 billion in debt. Until the entire flood program is risk-based and this massive debt is paid off, the federal government should not be putting taxpayers at further risk through expansions in the flood program. At the same time, this effort ensures that more homeowners pay for their insurance if they have the ability to do so.”
SmarterSafer.org is a national coalition made up of a diverse set of voices united to support environmentally-responsible, fiscally-sound approaches that promote public safety. The Coalition strongly opposes legislative proposals that encourage people to build homes in hurricane-prone, environmentally-sensitive areas by creating new programs that directly or indirectly subsidize their homeowner’s insurance.
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Contact: Matt Englehart