Stephanie Grace: Grace Notes: What is it with these Texas Republicans and flood insurance?
Advocate, The (Baton Rouge, LA)
May 28-- May 28--For a long time, proponents of the National Flood Insurance Program -- well represented among Louisiana's delegation for obvious reasons -- had to work around a Republican Congressman from Texas. Jeb Hensarling was chairman of the House Financial Services Committee, and until he retired at the beginning of the year, he was the most powerful skeptic of a government program that provides often-subsidized coverage that the private market does not offer.
It turns out that a different congressman, a freshman from the same state, is now causing problems. U.S. Rep. Chip Roy, a former aide to U.S. Sen. Ted Cruz, single-handedly blocked passage of a $19 billion disaster relief bill late last week when he refused to go along with a fast-track procedure to pass the bill after many lawmakers had left for the weeklong Memorial Day holiday.
That drew howls of protest over the delay of badly needed relief for Americans who've been hit by hurricanes, wildfires and floods.
And it also, once again, threw the short-term functionality of the flood insurance program into doubt just days before the 2019 hurricane season is set to begin.
The bill that Roy blocked included a provision that would have extended the NFIP, which is set to expire May 31, for four months.
Something could still work out, proponents say, but there's one big impediment: the full Congress won't return to work until June.
___
(c)2019 The Advocate, Baton Rouge, La.
Visit The Advocate, Baton Rouge, La. at www.theadvocate.com
Best’s Commentary: Minimal Insured Losses Expected in Peru and Ecuador from Magnitude 8.0 Earthquake
NFIP remains in limbo as part of broader U.S. House impasse; expires Friday if not extended
Advisor News
- How advisors can help frugal retirees finally enjoy their savings
- Wealth planning vs. estate planning: Honoring your client’s wishes
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
More Advisor NewsAnnuity News
- Jackson Announces New Annuity Offering for AARP Members
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
More Annuity NewsHealth/Employee Benefits News
- STATE AUDITOR JAMES BROWN REMINDS MONTANANS TO UTILIZE ACA OPEN ENROLLMENT PERIOD, CAREFULLY REVIEW ANY LIMITED PARTNER' PLANS
- Anthem Blue Cross and Blue Shield Announces Agreement with Brokers Holding Group to Expand Reach in Georgia’s Small and Mid-Markets
- New Findings from Bar Ilan University Describe Advances in Mental Health Diseases and Conditions (Did Nationwide Mental Health Insurance Reform In Israel Increase Access To Community-based Care? a Population-based Retrospective Cohort Study): Mental Health Diseases and Conditions
- The closing argument for Republicans
- NYC public hospitals brace for coverage crisis as federal Medicaid work requirements loom
More Health/Employee Benefits NewsLife Insurance News
- Corebridge Financial Announces Third Quarter 2026 Results
- MassMutual announces record $3.3 billion policyowner dividend for 2027
- Protective Completes Acquisition of Obsidian, Establishing Specialty Property and Casualty Business Line
- Jackson Announces New Annuity Offering for AARP Members
- Open Enrollment Starts November 1: Tampa Broker Ryan Michalek Urges Families and the Self-Employed to Check 2027 Costs Before They Auto-Renew
More Life Insurance News