Political Quotes

“it's good to be here joining my Florida colleagues on an issue of such great importance not only to the State of Florida, but to the whole country. As we discussed during committee, I believe there is a role for a public-private partnership in managing risk. Whether it's a hurricane on the gulf coast, an earthquake or wildfire in California, tornadoes across the central plains, the truth of the matter is any catastrophe is a terrible experience for a State, a business, or certainly a family to endure. But we're not here to just talk about any catastrophe. We're here to talk about mega-catastrophes, or mega-disasters, the kind of the scale and the scope that displace entire towns, entire regions for months, if not years. This amendment, in my view, offers a commonsense protection for the taxpayers who are not affected by that particular disaster in holding participating States accountable for any liquidity or catastrophic loans that they may be eligible to receive should they experience this type of disaster that the private marketplace cannot cover, in which case they may seek this temporary financial assistance. The amendment says that as a condition for a State to receive a loan, it is required to agree not to repay with Federal funds, and the Secretary of the Treasury has to enforce that agreement. If a State qualifies for a loan and then proceeds to get a liquidity or a catastrophic loan, they have to pay it back with State funds.”