In the News Bankers and realtors split from insurers as Senate prepares vote on flood bill
With the NFIP currently looking at a 2017 sunset, delay would wreck that hard-won progress, R Street Institute Senior Fellow R.J. Lehmann said in a statement. Any changes should be limited in scope, he said, such as further phasing-in of subsidy reductions and risk-based rates.
“While it is reasonable for Congress to address hardships that could make flood insurance unaffordable for lower-income homeowners, a blanket delay would mean continuing to subsidize beach homes for the wealthy, as well,” Lehmann said.
