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
- Study finds more households move investable assets across firms
- Could workplace benefits help solve America’s long-term care gap?
- The best way to use a tax refund? Create a holistic plan
- CFP Board appoints K. Dane Snowden as CEO
- TIAA unveils ‘policy roadmap’ to boost retirement readiness
More Advisor NewsAnnuity News
- $80k surrender charge at stake as Navy vet, Ameritas do battle in court
- Sammons Institutional Group® Launches Summit LadderedSM
- Protective Expands Life & Annuity Distribution with Alfa Insurance
- Annuities: A key tool in battling inflation
- Pinnacle Financial Services Launches New Agent Website, Elevating the Digital Experience for Independent Agents Nationwide
More Annuity NewsHealth/Employee Benefits News
- Idaho is among the most expensive states to give birth in. Here are the rankings
- Some farmers take hard hit on health insurance costs
Farmers now owe a lot more for health insurance (copy)
- Providers fear illness uptick
- JAN. 30, 2026: NATIONAL ADVOCACY UPDATE
- Advocates for elderly target utility, insurance costs
More Health/Employee Benefits NewsLife Insurance News
- AM Best Affirms Credit Ratings of Etiqa General Insurance Berhad
- Life insurance application activity hits record growth in 2025, MIB reports
- AM Best Revises Outlooks to Positive for Well Link Life Insurance Company Limited
- Investors holding $130M in PHL benefits slam liquidation, seek to intervene
- Elevance making difficult decisions amid healthcare minefield
More Life Insurance News