In the News House of Representatives votes to extend National Flood Insurance Program
R.J. Lehmann, R Street’s director of finance, insurance and trade policy, said in a statement that the NFIP “is unsustainable as currently constructed and Congress cannot continue to ignore its problems. Even after Congress moved last year to erase $16 billion of the agency’s debt, it still owes taxpayers roughly $20.5 billion. The Congressional Budget Office projects it will lose an average of $1.4 billion every year.
