Countdown begins as flood program stalls in Congress
“It’s not going to be easy, but as a general rule the party that’s in power wants to act on these things while they still have the gavel,” said R.J. Lehmann, director of finance, insurance and trade policy for the R Street Institute and a member of the NFIP-focused SmarterSafer coalition.
…Lehmann of R Street said the most likely scenario before July 31 is the passage of another extension. It might last six months, as Kennedy proposed, or through October. That would give Congress another opportunity to make changes to the program…
“There’s obviously a lot of risk out there that needs to be insured, and the federal government alone isn’t going to be able to do it,” Lehmann said.
