"Competing legislative pitches for extending and reforming the nation's debt-hampered flood insurance program are about to hit Capitol Hill — bringing debates over climate change and risk, equity and cost, and the role of federal subsidies.
The most comprehensive proposal being floated so far is one from House Financial Services Chairwoman Maxine Waters (D-Calif.).
That discussion draft would extend the program for an additional five years and limit the government's ability to raise the price of flood insurance amid growing concerns about affordability (E&E Daily, April 14). Current authorization for the National Flood Insurance Program (NFIP) is set to expire in five months.
Sources expect language to also soon emerge from the Senate Banking, Housing and Urban Affairs Committee, chaired by Democratic Sen. Sherrod Brown of Ohio."
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