Political Quotes

“This bill extends the flood insurance program for 5 years, while making commonsense reforms so that flood insurance remains available to millions of Americans who live in flood-prone areas. Though many people think of floods as confined to coastal areas, I want to let my colleagues know that in the last year, there have been flood claims in all 50 States. Every State has at-risk areas, and in the absence of private insurance, the National Flood Insurance Program is the only way for home and business owners to ensure they can rebuild after the waters recede. The bill we are considering makes some tough choices, as I talked about last week. In order to assure the continuation and availability of flood insurance, this bill essentially restarts the flood program. It forgives the $17 billion of program debt so that all policyholders will not face steep premium increases. All 5.5 million policyholders would have to double their premium payments just to pay the interest on this debt.”