Barry Loudermilk: “I also want to thank Chairman Hensarling and Chairman Duffy for their tireless work on this bill. They have labored…”

“I also want to thank Chairman Hensarling and Chairman Duffy for their tireless work on this bill. They have labored endless hours to bring this bill to the floor, and we are very appreciative of that. Mr. Speaker, the fact that we are here today shows that our legislative process is working and that we are doing the challenging work the American people sent us here to do, work that isn't always easy. Quite often, it is hard, but it is the right thing to do. After months of hard work, the Financial Services Committee passed a package of bills in June to reform and reauthorize the National Flood Insurance Program. Mr. Speaker, many of these bills in that package passed with unanimous support. You only have unanimous support with strong bipartisan support. Now, after lengthy negotiations, we are taking up this compromise bill that will significantly improve the NFIP and protect America's taxpayers. The 21st Century Flood Reform Act will make major strides to grow the private flood insurance market and start to put the NFIP on a fiscally sustainable path. This bill will also implement flood mapping improvements and increase transparency and disclosure so policyholders will know the true risk of floods at their property. The bill also includes an amendment that I introduced with my good colleague and dear friend from Georgia, Representative David Scott.…”