The National Flood Insurance Program (NFIP) is set to expire on July 31, 2018. Ranking Member of the House Committee on Financial Services Maxine Waters is calling for the revival of a long-term solution for this pressing issue.
As the country is preparing for the hurricane season, Waters is reminding everyone of the importance of this program and that a long-term solution should already be put in place.
NFIP was established in 1968 and is being administered by the Federal Emergency Management Agency (FEMA). In their website, FEMA explained the program’s role as “The National Flood Insurance Program aims to reduce the impact of flooding on private and public structures. It does so by providing affordable insurance to property owners and by encouraging communities to adopt and enforce floodplain management regulations.”
Waters called upon Congress to start looking for a long-term solution for the program.
“In 2017, for the first time on record, three Category 4 hurricanes made landfall in the United States and served as painful reminders of the importance of affordable and accessible flood insurance,” Waters said. “While Hurricanes Harvey, Irma, and Maria may be a distant memory for some, the road to recovery is just beginning for many in this country and we are still learning about the depths of despair in Puerto Rico with no signs of leadership from the Trump Administration.”
“Trump continues to praise the recovery efforts following Hurricane Maria when recent studies have estimated that thousands more Americans have died than previously acknowledged by his Administration,” she said. “With this failed leadership, the last thing we need is for the National Flood Insurance Program to expire. Partisan gamesmanship and harmful reforms passed out of the House have stalled the NFIP’s reauthorization for long enough. It’s time for Congress to do its job and pass a long-term reauthorization that will ensure Americans are protected this and every hurricane season to come.”