President Trump’s Budget Eliminates Money for Flood Insurance Mapping
"The maps are a critical aspect of the flood insurance program, the basis for both actuarial rates for each structure in a flood plain and for the implementation of land use policies to assure that unwise construction does not occur in high-risk flood plains," said
As to mitigation of risk, the loss of funding to create new maps will lead to either of two extremely undesirable outcomes:
1. The maps will not be updated. As maps age they become more and more inaccurate, always on the low side because new construction fills the flood plain and water levels during a flood rise as a result. Shortly after Hurricane Katrina, when
2. The flood insurance rates will be surcharged to pay for mapping. This is likely the only way to pay for mapping if the Budget does not pay for it. The problem with this is that this will exacerbate the unaffordability problem that led to the pull back of many of the Biggart-Waters Act prices. Rates are also already surcharged to try to reduce or hold off more deficits (already a whopping
Flood-mapping provides important information about where development is safe and unsafe, whether flood insurance is needed or not and how to effectively price coverage from one community to the next. It is not a parochial need that can be paid for by those who buy flood insurance; it serves the whole country and should be supported in the federal budget.
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