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Flood Insurance Extension Part of Controversial Bill

12/16/2011 5:45 PM | Anonymous

The U.S. House Tuesday night (Dec. 13) voted to reform and extend the National Flood Insurance Program (NFIP) for five years as part of a bill that also would extend the expiring tax cuts, including cuts to the payroll tax.

House Republicans tucked a long-term NFIP extension, which had already been passed in July, into the “Middle Class Tax Relief & Job Creation Act of 2011,” which passed by a 234-193 vote mostly along party lines.

The NFIP program expires Dec. 16 without an extension.

Unfortunately, this is the same controversial bill that is on the nightly news, and the Flood Insurance extension is only a small part of the bill, which also includes House Republicans’ demands for budget cuts in exchange for their support on extending expiring tax cuts. Senate Majority Leader Harry Reid (D-Nev.) has said the bill is “dead on arrival.” President Obama also has indicated he would veto the measure.

ALTA is actively working to preserve the Flood Insurance extension here and in other bills. 

Comments

  • 12/19/2011 9:33 PM | Anonymous
    Update: 12/19/11

    Over the weekend, Congress passed and the President signed two resolutions (H.J.Res. 95 and H.J.Res. 94) which had the effect of extending the National Flood Insurance Program through December 23, 2011 (No, that’s not a typo). Here’s the plain English version.

    Separately, our friends at ALTA report that they were successful in getting a five month extension of the NFIP included as part of H.R. 2055, that will fund the federal government for the rest of FY2012. That bill also passed the Senate over the weekend, and has been referred back to the House for approval of the conference report, then hopefully to the President for approval.

    Our congratulations to the ALTA team for their success in keeping this important program running. We’ll keep you posted as to any other hiccups.
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  • 12/24/2011 12:33 PM | Anonymous
    The National Flood Insurance Program has been extended through May 31, 2012 by the passage of H.R. 2055. It was signed into law by the President on December 23. As many of you already know this is the same highly controversial bill that extended the Payroll Tax reductions, so there was some doubt as to whether there would be another hiatus in the program.
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