National Flood Insurance

Floor Speech

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Mr. Speaker, today I pose the question: Why do many people--too many--how many is too many? The number that can have an adverse impact.

Why do too many people--not all--why do too many people deny the existence of circumstances that can have an invidious impact upon society? Why?

Why would people deny that there is a link between smoking and cancer? Why would people deny that invidious discrimination existed when there were laws on the books that encouraged invidious discrimination? Why would people deny the existence of climate change with all of the empirical evidence available to us to peruse and scrutinize? Why? Why, Mr. Speaker?

Because if you deny it, you don't have to do anything about it. If you deny the linkage between smoking and cancer, you don't have to do anything about it. If you deny the links between invidious discrimination and the impact on persons who are discriminated against, you don't have to do anything about it. If you deny that climate change exists, that there is something going on, then you don't have to do anything about it.

Mr. Speaker, notwithstanding denials, we have to acknowledge that, as of late, in Houston, Texas, we have had three major events--three major hurricanes--to have to cope with. And these three major events, while there may be some debate about whether they are 100-year floods or 500- year floods, everybody agrees that they are billion-dollar floods, plus, I might add, because the empirical evidence is there to support it.

With all of these hurricanes that are traversing the Atlantic Ocean and coming into landfall here in the United States, the frequency of them has to get our attention. So whether you think it is climate change or whether you think that these are acts of God--and the law recognizes such language--or whether you just can't explain it but you recognize that it is occurring, I think we have to do something about what is going on.

Mr. Speaker, we can no longer assume that the old normal is going to apply to our circumstances. There is a new normal that we have to cope with, and this new normal has much to do with how we will provide for the welfare and safety of the people of the United States of America.

How will we approach flood insurance? The National Flood Insurance Program is in debt that we acknowledge to the tune of $24.6 billion. That is what we acknowledge. But after Harvey and after what has happened recently in Florida and in the islands, Mr. Speaker, that number is going up exponentially. If we are of the opinion that there is no climate change, this is just sort of a freak of nature that is occurring right now and things will go back to the old normal and we just stay with that, then we won't take the necessary steps to provide flood insurance that is going to cover people so that they are not lost in a storm of red tape and bureaucracy.

We have to change the dynamics that relate to flood insurance in this country. We have to find a way to allow that $24.6 billion that is going to go up exponentially to be properly resolved. It has to be eliminated.
Here is why: If you pass that on to the policyholders, then many people will not be able to afford flood insurance. If people can't afford flood insurance, then they are not going to be able to buy homes. If they can't buy homes, then we are going to have an impact on the economy.

I believe, Mr. Speaker, that it is time for us to do several things with flood insurance. One, resolve the issue of when versus flood as it relates to compensation for damages. Two, eliminate the debt. And, finally, I would say this: We have to, whether we like it or not, acknowledge that there is a new normal, especially after what has happened in Texas, Louisiana, Florida, and the territories.

I would also want to be specific about Puerto Rico and the Virgin Islands. Our prayers and thoughts are with them just as they are with those persons in Florida who have been harmed and the many persons across Texas, Louisiana, and other States.

This is our moment in time. This is our opportunity to make a difference. Let's acknowledge the change and make a change.

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