The R Street Institute welcomes today’s 237-199 vote by the U.S. House of Representatives to pass H.R. 2874, 21st Century Flood Reform Act. The following quote can be attributed to R Street Senior Fellow R.J. Lehmann:

“This year’s catastrophic storms underscored what long has been obvious — that the National Flood Insurance Program is unsustainable in its current form. This legislation serves to address some of the program’s most pressing issues by encouraging mitigation and the development of a private market in flood insurance, addressing repetitive loss properties and ensuring that any subsidies are appropriately means-tested. It represents long-needed and significant reform.”

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