Washington, D.C. – Today, U.S. Senators Marco Rubio (R-FL), John Kennedy (R-LA), Bill Cassidy, M.D. (R-LA) and Bob Menendez (D-NJ) introduced legislation that would reauthorize the National Flood Insurance Program (NFIP) for six months. Without action, statutory authority for the NFIP will expire on November 30, 2018.
“The National Flood Insurance Program is critically important to my home state of Florida,” Rubio said. “It is extremely unfortunate that another extension is needed, but it is imperative that Congress does not allow the program to lapse. Floridians cannot afford that kind of uncertainty. I urge leadership to bring this up for a vote as soon as possible, and look forward to continued work with my colleagues on bipartisan reforms to ensure the program is affordable and sustainable.”
“I am increasingly frustrated that we haven’t made long-term fixes to the NFIP. However, this program is absolutely necessary to more than five million American homes and businesses,” Kennedy said. “We must ensure that Louisiana families as well as families across the United States remain protected past this expiration. My bill will prevent the program from expiring while we work on much-needed reforms.”
“The National Flood Insurance Program needs to be comprehensively reformed to make the program more fair, affordable, efficient and solvent, which is what my SAFE NFIP would do,” Menendez said. “But with the NFIP set to expire in about two weeks and no movement on the horizon, it’s critical that we prevent a lapse that would disrupt the real estate market and leave thousands of families uninsured and vulnerable. This six month extension will give Congress time to pass a long-term reauthorization with real, meaningful reforms in line with my SAFE NFIP Act, which is the most bipartisan flood insurance bill in the Senate.”
“While it’s frustrating another short-term extension is required, this gives us a good opportunity in the new Congress to buckle down and hammer out a long-term agreement that is good for Louisiana and good for taxpayers,” said Dr. Cassidy.