Last week, lawmakers voted to repeal a key reform to the National Flood Insurance Program. Kate Sheppard believes that this decision is flawed.
In 2012, Congress “scaled back government subsidies for flood insurance on second homes and on properties damaged repeatedly in floods … The changes, advocates said, would help discourage risky development and make would make rates reflect the real likelihood of loss due to flooding.”
“The change Congress approved last week repeals those changes … Critics say Congress is turning a blind eye to the National Flood Insurance Program’s insolvency and the growing risks climate change poses to its viability.”
Rachel Cleetus, a senior climate economist with the Union of Concerned Scientists: “Congress had a real opportunity here with Biggert-Waters to start to address some of the necessary reforms to the National Flood Insurance Program, both to deal with growing risk from sea level rise as well as development along our coasts … But instead they’ve done what they seem to have perfected — burying their heads in the sand. They’re not dealing with the tough issues here.”