National Flood Insurance Program Extension Act of 2019

Floor Speech

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Mr. Speaker, I rise in support of my bill, H.R. 2578, the National Flood Insurance Program Extension Act of 2019.

Since the National Flood Insurance Programs' multiyear authorization expired on September 30, 2017, ideological differences have led Congress to pass 10 short-term extensions and even allowed the program to briefly lapse twice during government shutdowns.

Unfortunately, the National Flood Insurance Program is currently set to expire May 31. My bill, which I have coauthored with Ranking Member McHenry, would extend the program to September 30 because we recognize that the NFIP is critical to ensuring access to flood insurance coverage across this country. This extension will afford the ranking member and me time to complete our work on a long-term, bipartisan compromise.

Mr. Speaker, the NFIP is much more than just an insurance program. The NFIP plays an important role in disaster preparedness and resiliency by providing flood maps, setting standards for floodplain management, and investing in mitigation for our homes, businesses, and infrastructure.

According to the Federal Emergency Management Agency, everyone is at risk of flooding. That means that this is not just a coastal issue. We all have an interest in ensuring a strong National Flood Insurance Program. We need a long-term reauthorization to provide certainty to homeowners and businesses, and we also need critical reforms to the program.

First and foremost, we must do more to address unaffordable premium costs for low-income households; address the program's debt, which is unfairly burdening policyholders with millions of dollars in interest; and lower costs and fees on policyholders.

Secondly, we need to invest more heavily in mapping, floodplain management, and mitigation, which will save taxpayer dollars in the long run by helping to reduce the damage that occurs when floods hit.

Finally, Superstorm Sandy exposed numerous issues related to claims processing, including findings of outright fraud. Going forward, we must work to ensure that we have safeguards in place and mechanisms for greater accountability and oversight to ensure that claims are handled fairly and efficiently to provide relief for policyholders.

Mr. Speaker, passing H.R. 2578 is not just a stopgap measure to kick the can down the road. I have every confidence that, with this extension, Democrats and Republicans will finally break the cycle of haphazard extensions. I intend to work in a bipartisan manner with Mr. McHenry to provide a long-term reauthorization to restore stability and confidence in the market. Through a thoughtful, bipartisan process, Congress can provide real relief to families, communities, and businesses.

Mr. Speaker, I urge the adoption of the bill, and I reserve the balance of my time.

Mr. Speaker, I am proud to stand with the millions of families across the country who rely on the National Flood Insurance Program by offering H.R. 2578 here today.

My bill will provide continuity for the NFIP without which these families would be left unprotected in the face of increasing flood risk. What is more, without the NFIP, the stability of the housing market would be put at risk.

My coauthor, Mr. McHenry, and I offer this bill today not as a permanent solution, but as a step towards a broader plan that will reauthorize the program for the long term and make reforms to ensure continued availability, affordability, and fairness in flood insurance.

Mr. Speaker, I am very pleased for the coming together of Mr. McHenry and myself to present a bipartisan bill on behalf of all of our citizens. I urge all of my colleagues to support H.R. 2578, and I yield back the balance of my time.

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