Menendez: Flood Insurance Reform Bill Turns Lessons of Sandy into Action

Menendez: Flood Insurance Reform Bill Turns Lessons of Sandy into Action

Comprehensive, bipartisan NFIP reform bill would fix problems exposed by Sandy, institute sweeping reforms to make it sustainable, affordable, fair & efficient

 

WASHINGTON, D.C. – U.S. Senator Bob Menendez (D-N.J.), chair of the Sandy Task Force and a senior member of the Senate Banking Committee that oversees the National Flood Insurance Program (NFIP), today introduced comprehensive, bipartisan legislation to extend the NFIP for six years while instituting a series of sweeping reforms to address the waste, abuse and mismanagement plaguing the system that led to delayed recovery for Sandy survivors.  He made the announcement today at a Capitol Hill news conference. 

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The Sustainable, Affordable, Fair, and Efficient (SAFE) National Flood Insurance Program Reauthorization Act of 2017 tackles systemic problems with flood insurance, puts it back on solid fiscal ground, and reframes our nation’s entire disaster paradigm to one that focuses more on prevention and mitigation to spare the high cost of rebuilding after flood disasters. 

The bipartisan bill is cosponsored by Sens. John Kennedy (R-La.), Chris Van Hollen (D-Md.), Marco Rubio (R-Fla.), Elizabeth Warren (D-Mass.) and Thad Cochran (R-Miss.), all members of the Senate Banking and Appropriations Committees that are ultimately charged with writing the NFIP reauthorization legislation, Cory Booker (D-N.J.) and Bill Nelson (D-Fla.).  Congress must reauthorize the NFIP, which expires on Sept. 30, 2017.

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