National Association of Counties Applaud Introduction of Bipartisan National Flood Insurance Program Reauthorization and Reform, Commit to Partnering on Final Bill

WASHINGTON, Nov. 13 (TNSPol) -- The National Association of Counties issued the following news release:

The National Association of Counties (NACo) applauded the introduction of the bipartisan National Flood Insurance Program Reauthorization and Reform Act of 2021 in the U.S. Senate by Senators Bob Menendez and Bill Cassidy. Last reauthorized in 2012, the National Flood Insurance Program (NFIP), provides insurance coverage to property owners for damages and losses due to catastrophic flooding.

NACo Executive Director Matthew Chase issued the following statement:

The bipartisan National Flood Insurance Program Reauthorization and Reform Act would provide a much-needed, long-term reauthorization of the NFIP and make key reforms to the program that would benefit counties and our residents.

"The NFIP short-term extensions have made it difficult for counties to effectively plan and implement workable budgets. Reauthorizing the program for five years would ensure continuous operation and long-term stability for policyholders.

"Counties appreciate the caps placed on annual premium increases, affordability provisions for low- and middle-income policyholders, and the increased investment in programs to manage and mitigate flooding. This bill will also freeze interest payments on the NFIP debt, helping to make the program solvent.

"Counties thank Senators Menendez and Cassidy for their leadership on this issue and are committed to working with our bipartisan congressional partners and the Biden administration to pass this much-needed legislation."

The legislation's co-sponsors made the following statements:

As we continue to face challenges derived of natural disasters, it's time to prioritize upfront investments in NFIP affordability measures to make sure more families are insured and can quickly get back on their feet," said Sen. Bob Menendez. "The National Association of Counties and their members deeply understand the enormous responsibility of state and local governments when faced with these challenges and how crucial the support of the federal government is to protect homeowners from the next storm. I'm glad to count on their support and I commit to continue working until we pass our bipartisan National Flood Insurance Program Reauthorization and Reform Act of 2021 into law."

We need to reform the NFIP to ensure it is affordable and accessible for the homeowner, accountable to the taxpayer, and sustainable for the future," said Sen. Bill Cassidy. "This bill is full of real solutions to achieve these goals."