Jeb Hensarling: “But Sandy has hit before many of these provisions could take effect. As chairman of the Financial Services Committee, I…”

“But Sandy has hit before many of these provisions could take effect. As chairman of the Financial Services Committee, I wish to inform all Members in this Congress our committee will take up legislation to transition to a private, innovative, competitive, sustainable flood insurance market, one that serves the needs of all of our countrymen but ends the unsustainable taxpayer bailouts once and for all. A great fiscal tragedy of today should never become an even greater fiscal tragedy for our children tomorrow.”