Key House and Senate lawmakers say they are planning to look more seriously at changes to the National Flood Insurance Program this fall.
The federally funded insurance program has gone through 33 short-term reauthorizations with no changes over the past eight years. Lawmakers have shied away from making more substantive reforms to a program often criticized for being unsustainable under its current structure, especially as it continues to near its debt limit of about $30.4 billion.
Rep. Mike Flood (R-Neb.), the chair of the House Financial Services Housing and Insurance Subcommittee, told POLITICO that he’s “hoping to have a [NFIP] hearing at some point, potentially this fall, just to kind of explore some of the issues.”
Flood said he plans to use the potential hearing this fall to “take a look at all the issues involving NFIP and kind of reintroduce this subcommittee to the issue.”
