It’s about time. From Reuters:
U.S. Sen. Christopher Dodd said on Wednesday he is determined to move federal flood insurance legislation through the Senate promptly, despite resistance from Louisiana lawmakers.
“I intend to do all I can to move this legislation to the president’s desk as soon as possible,” said the Connecticut Democrat, a former presidential candidate who outlined his 2008 priorities at a press conference.
Dodd chairs the Senate Banking Committee, which in October voted unanimously to reform federal flood insurance while refusing to follow the lead of a House of Representatives bill that would expand the program to cover wind damage.
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1 Fairness For Flood Risk // 24 Jan 2008 at 12:07 pm
Let’s hope they start where they left off. Let’s hope they finish what they started. The second session of the 110th Congress is underway, and once again, especially since Hurricanes Katrina, Rita and Wilma, the public has been reassured of a sweeping overhaul of the National Flood Insurance Program. Realistically, it will take more than hope to rescue a program more than $17 billion in debt, a program that relies upon a disproportionate number of maps that are more than 10 years old to determine a property’s flood risk, a program that penalizes low-risk property owners by charging full actuarial premiums, while it subsidizes premiums paid by high-risk property owners. Frankly, we don’t need hope, we need REFORM and urge you to contact Senator Christopher Dodd (D-CT) who chairs the Senate Committee on Banking, Housing and Urban Affairs http://www.banking.senate.gov), and Representative Barney Frank (D-MASS) who chairs the House Committee on Financial Services (http://financialservices.house.gov) Remind them, along with the senators and representatives who represent your community, to make Flood Insurance Reform a priority in this congressional session.