National Flood Insurance Program – Update
Here’s the latest update we’ve received about the National Flood Insurance Program (thanks to Travelers) –
The reauthorization of the National Flood Insurance Program continues to be tied up in the tax extenders package as senate Democrats were unable to gather enough support to pass the seemingly controversial package. Senate Majority Leader Harry Reid filed cloture on the bill Wednesday, but it appears as though a vote will not occur this week as there was not enough support to pass the bill. Several insurance trade associations and other industry associations sent a joint letter to congress expressing frustration in the continued lapse of the National Flood Insurance Program and urged them to pass a long term stand alone extension. Senate leaders are working to scale back the tax extenders package so they can get the votes they need to pass this bill.
We will provide you with more information when we get it.