NFIP Reauthorization Passes House FSC
PIA National applauds the passage on June 12 of bipartisan legislation in the House Financial Services Committee to reform the National Flood Insurance Program (NFIP) and reauthorize it for five years. The compromise bill was released June 6 by House Financial Services Committee Chairwoman Maxine Waters (D-CA) and Ranking Member Patrick McHenry (R-NC). The NFIP is currently slated to expire September 30, 2019 and is on its 12th short term extension since 2017.
Passage of the Waters-McHenry legislation, along with a similar bill also supported by PIA, was unanimous in the committee. Every Republican and every Democrat voted for both bills.
“After nearly two years of seemingly never-ending short-term extensions, PIA National thanks Chairwoman Waters and Ranking Member McHenry for working together in a bipartisan way to pass this common-sense legislation out of the Financial Services Committee,” said PIA National vice president of government relations Jon Gentile. “Their leadership has ended the treatment of the NFIP as a political hot potato, which has been unfair and even dangerous for the millions of NFIP policyholders, as well as those who have been impacted by flooding events.” -more-