On the recordSeptember 27, 2007
I want to stress what I do understand about this bill; that this is an insurance program and that some will pay more than they take out, and that the idea is to have a broad spectrum of the Nation share the risk of natural disasters. But when it comes to States like Michigan and the Federal flood insurance program, the people of my State are repeatedly being sucked dry by a mandated program that forces so many property owners into floodplains and into the program when they never, or almost never, flood. The net result is that Michigan property owners, by far, pay much, much more than their fair share. Recent hurricanes, of course, have depleted FEMA funds. The Federal Government appropriately has stood up to help these States recover. But now the Federal flood insurance program is looking for even more money. And people in Michigan, where natural disasters are rare, are being forced to kick in more than their fair share.
Source
govinfo.gov
