Update On Flood Insurance Renewal
On May 10th I wrote a story about how Congress needs to extend the National Flood Insurance Program by the end of May or thousands of property closing will be held up.
Well, some progress is being made in Washington, DC.
Yesterday (Thursday), the Senate voted to extend the program for another 60 days. Last week, the House ok'd a 30 day extension. So, now the two chambers have to find some kind of compromise (ahh, there's that word politicians bandy about so much but seldom do) on how long the extension will be. They need the extension to work on a long-term extension of the flood insurance legislation that will restore fiscal solvency to the program.
Let's hope they can actually find some kind of middle ground on this needed program. The National Flood Insurance Program's charter runs out at the end of May and the hurricane season starts the next day. Nothing like cutting it close.
Well, some progress is being made in Washington, DC.
Yesterday (Thursday), the Senate voted to extend the program for another 60 days. Last week, the House ok'd a 30 day extension. So, now the two chambers have to find some kind of compromise (ahh, there's that word politicians bandy about so much but seldom do) on how long the extension will be. They need the extension to work on a long-term extension of the flood insurance legislation that will restore fiscal solvency to the program.
Let's hope they can actually find some kind of middle ground on this needed program. The National Flood Insurance Program's charter runs out at the end of May and the hurricane season starts the next day. Nothing like cutting it close.
-30-
posted by Terry Ward at 6:19 AM
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