Flood Insurance gets extension in massive spending package — but new deadline would loom in July
But lawmakers on
That could put added pressure on
Negotiations between budget hardliners and coastal lawmakers have yielded little in the way of progress over the past few months and legislation to overhaul the program has languished in the
Budget hawks have pushed changes to the NFIP that would dramatically raise rates on many high-risk homeowners who currently pay below-market premiums and shrink the program by booting some properties that have repeatedly flooded.
Lawmakers from flood-prone areas -- including
The proposed July extension for the National Flood Insurance Program left at least some
But others were more hopeful that the looming deadline and
The NFIP was initially set to expire at the end of September. But
Tying the NFIP's fate to government funding has given congressional leaders leverage to force through extensions of the program because derailing the broader package would result in a broader federal government shutdown.
But the July proposed extension would split the NFIP from must-pass budget bills, leaving less power for leadership to push rank-and-file lawmakers to back an extension or potential changes.
The
More to come.
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