Political Quotes

“The simple question, as pointed out by Senator Nelson from Florida, is that this amendment, as presently crafted, could end up costing billions more than we anticipated. There were $17 billion in claims in excess of the $1.5 billion in funds. Some predict this could be as much as $60 billion to $100 billion. We have to grapple with wind. We have to have an actuarially sound program. The last thing we want to do is destroy a flood program, which we could do by overwhelming it as a result of claims under wind, without standards under which we judge those conditions and concerns. Based on what happened in 2005, the claims under wind might have been five times $17 billion. I am determined as a member of the committee to spend more time on this. At this juncture, to adopt this amendment would cause the program to be put in great jeopardy.”