On the recordSeptember 27, 2017
I want to take a moment and thank Ms. Castor and Mr. Ross for their hard work on this legislation. There are some here in this body who have said: if we let free markets into the National Flood Insurance Program that is run by the Federal Government, you are going to undermine the premiums that come into the national flood insurance pool. It is $25 billion in debt and is structured in a way where premiums can't rise. This doesn't undermine the program. What we are doing is saying: Listen, if you are in the National Flood Insurance Program right now, the way it is structured, there is only one place you can buy insurance. But this is a provision that will open up the market and let private companies come in and offer families better policies at better prices. If they don't, you can stay in the NFIP. You don't have to go private. You can stay government. But you give people a choice. It is like saying: Listen, you have to keep the United States Postal Service as your one carrier. You can't have FedEx or UPS. You don't get those choices. People want a choice. In Houston, instead of having only 20 percent of the people who had coverage, you might have had 40, 50, or 60 percent of the people who would have had coverage. More people would have had protection. I have got to tell you, I am disappointed in the partisanship. I am going to quote a person I rarely quote, but a person I truly like.…
