Bill in Congress would block important flood insurance reforms
“Passage of Biggert-Waters was a landmark statement by Congress that it was serious about addressing the inherent flaws of a program that puts people in harm’s way, encourages environmental degradation and wetlands depletion, and is nearly $30 billion in debt,” said R Street Senior Fellow R. J. Lehmann. “Congress took a measured approach to reform by phasing out the most indefensible subsidies and ensuring that any rate increases were modest and gradual.
“Sen. Landrieu’s bill would undo all of the hard work and delicate compromises that went into a decade’s worth of consensus building in Congress,” Lehmann continued. “More importantly, it represents a return to many of the bad policies that got the NFIP into the mess it currently faces.”
