On the recordNovember 20, 2003
I am afraid the gentleman from Louisiana fundamentally misses the point for why we have a flood insurance program. I find no small amount of irony that it was the late Hale Boggs who was one of the first three sponsors of the flood insurance program in 1968 precisely because the people in Louisiana needed a program like this. It is the people in Louisiana who are actually paying more money, and I wish the gentleman from Louisiana was still here so that we could engage in a little bit of a colloquy at some point, but they have paid more than $200 million in premiums above what they have gotten back. There are a few of the Cajuns who are part of the 10,000 people who are flooded repeatedly, in many cases being paid more than the price of the property value. This bill would help these people. We have in our files correspondence from people who are trapped because of the repetitive flood loss. They cannot sell their property.
Source
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