I oppose the Vitter amendment. The purpose of the Dodd-Shelby bill is to increase the actuarial soundness of the flood insurance program. This amendment by Senator Vitter would undermine greatly that effort. The amendment would extend flood insurance subsidies, crowd out private markets, and lead to larger program losses down the road. I urge my colleagues to join Senator Dodd and me in opposing the Vitter amendment.
Opposing the Vitter amendment during debate on the Dodd-Shelby bill regarding flood insurance.
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