Scott Garrett: “back in 1968, Congress created the National Flood Insurance Program, the NFIP, with the intent of providing homeowners…”

“back in 1968, Congress created the National Flood Insurance Program, the NFIP, with the intent of providing homeowners that live in floodplains the opportunity to purchase flood insurance from the Federal Government. At the time, there were little to no opportunities to purchase flood insurance from the private insurance market. Over the years, some problems have developed in that program, and so I come to the floor of this House today to thank Chairman Oxley, Chairman Baker and Ranking Member Frank for all their hard work in putting together the important piece of legislation that is before this House today to try to address some of those problems that have been experienced in the past and to make sure that we have a national flood program worthy of the constituents at home and the problems that they face. There were several different solutions to address one of the issues that came up, and that is dealing with homeowners who were in existing pre-FIRM homes and the insurance that they could afford to buy and coming forward with those homes maybe right across the street from them that did not qualify.…”