Political Quotes

“I thank the chairman for giving me this time. Madam Speaker, I rise in support of this conference report and wish to address particularly title II, which would reauthorize for 5 years the National Flood Insurance Program, or NFIP. There are six important reforms included in this bill: It improves NFIP's financial stability; it will reduce the burden on taxpayers; it restores integrity to the FEMA mapping system; it will help bring certainty to the housing market through a 5-year reauthorization; and last, it explores ways to increase private market participation. Many of us in Congress would like for the private sector, instead of taxpayers, to shoulder the risk of the National Flood Insurance Program. Market participants have signaled that they can assume the risk of flood insurance. And with the appropriate data from FEMA, the reinsurance industry has indicated that within weeks it can price this risk. That's why, for the first time in the NFIP's existence, this flood reform measure will require FEMA to solicit bids to determine the cost to the private sector, not to the taxpayer, of bearing the risk of flood insurance. Finally, I'd just like to say that this bill is proof that bipartisanship is possible, particularly when it comes to an issue of national significance, such as the most frequently occurring national disaster in the United States, flooding. When a flood occurs, it does not choose an area that has Republican or Democrat leanings or elected officials.…”