Washington, D.C. – House Republican Conference Chair Cathy McMorris Rodgers (R-WA) released the following statement after the House passed the 21st Century Flood Reform Act (H.R. 2874). Sponsored by Rep. Sean Duffy (R-WI), the bill would improve the financial stability of the National Flood Insurance Program; enhance the development of more accurate estimates of flood risk through new technology and better maps; increase the role of private markets in the management of flood insurance risks; and provide for alternative methods to insure against flood peril.
“Home and property owners in Texas, Florida, Louisiana, Puerto Rico, and the Virgin Islands have had their lives flipped upside down in the aftermath of the hurricanes that hit earlier this year,” said Chair McMorris Rodgers. “Our flood insurance program needs real reforms that strengthen the program so home and business owners have affordable and reliable flood insurance options. We also must ensure that the NFIP is put on a path to financial stability, while also providing choice and flexibility in the marketplace. Rep. Duffy’s bill addresses some of the underlying issues with the program and proposes reforms that will improve the financial stability of the program and increase options for property owners.”