On the recordDecember 20, 2024
Reserving the right to object, let the record show that what I have offered is a way to limit government insurance to regular people of modest income but to say rich people with beach houses shouldn't have government-subsidized insurance. The program costs billions of dollars. It is $30, $40, $50 billion in the hole, anyway you want to measure it. Something has got to be done. What would those reforms be? What would the most obvious reform be for a flood program that is billions of dollars in the hole? Why don't you tell rich people: Buy your own insurance. Does that mean I don't like rich people? No. Probably nobody in this body more appreciates success and people who work hard and make a good living--nothing against that, other than we shouldn't give them free stuff. I mean, I am all for them. If you have got a yacht, invite me over. But I am not for buying insurance for your yacht with taxpayer money. That doesn't mean I don't appreciate that you are wealthy and you have got a yacht. I will ride on your yacht. I will come to your party. But I am not going to buy your insurance with the taxpayer money, which is billions of dollars in the hole with this just one program. The whole government is $2 trillion in the hole. So let the record reflect that I offered to amend this program, let it go on, and we exclude only the homes of people who have homes-- second homes--over $500,000. And that was rejected. So I have another offer.…
Source
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