Richard Gephardt: “I rise today in support of the National Flood Insurance Reform Act, H.R. 3191. I would like to commend Representative…”

“I rise today in support of the National Flood Insurance Reform Act, H.R. 3191. I would like to commend Representative Kennedy and his subcommittee for their efforts to bring this much-needed legislation to the floor. What we saw in the Midwest last summer was a total catastrophe. It is estimated that the flood caused over $2 billion in damages in Missouri alone. Areas of my district were underwater from July through September. The Mississippi River and its tributaries devasted our Nation's heartland. Fortunately, in many cases, flood insurance saved families and businesses from financial ruin. Paying regular premiums over the years allowed them to rebuild after the flood waters receded. If they had been flooded repeatedly, the insurance program would help them move out of the floodplain and away from danger. Although areas of the Midwest had a higher than average rate of flood insurance purchases, in too many cases this past summer, people did not have insurance.”