Decision Will Help Preserve Financial Stability of National Flood Insurance Program
WASHINGTON – SmarterSafer.org – a coalition of environmental groups, taxpayer advocates, insurers, and housing and mitigation organizations – today express its approval of Speaker John Boehner’s decision to reject Senate legislation to delay flood insurance reforms.
SmarterSafer.org said, “We applaud Speaker Boehner for rejecting proposals to further delay flood insurance reforms and hope that he will instead explore measured changes that will put a troubled program on a path to fiscal viability. The CBO warned last week that delays would exacerbate the program’s finances by adding an extra $2.1 billion to its already alarming $24 billion debt load. The Congress has just passed a one-year delay of some provisions in the omnibus bill. A four-year delay would make the situation even worse. Clearly the Speaker understands the gravity of this situation and we look forward to working with the House on targeted changes.”