On the recordJuly 12, 2011
I strongly oppose this amendment. The gentlewoman's amendment would terminate entirely the flood insurance program, which provides much needed insurance for 5.5 million homeowners. The flood insurance program was created in 1968 after record flooding led the private insurance industry to stop writing flood policies. The private sector didn't want to write these policies because floods are very common and very expensive. However, the Federal Government didn't want to simply write a blank check for homeowners every time it flooded. This is why the flood insurance program was created. {time} 1650 Mr. Chairman, I yield the balance of my time to the gentlewoman from Illinois, Chairwoman Biggert, who has worked so hard on this legislation. The Acting CHAIR. Without objection, the gentlewoman from Illinois will control the time. There was no objection.
