Sen. Bill Cassidy wants Congress to address flood insurance crisis
U.S. Sen. Bill Cassidy (R-La.) called on Congress Monday to address the National Flood Insurance Program during a speech on the Senate floor.
BATON ROUGE, La. (BRPROUD) — U.S. Sen. Bill Cassidy (R-La.) called on Congress Monday to address the National Flood Insurance Program during a speech on the Senate floor.
Cassidy said FEMA's Risk Rating 2.0 affects people with a lower income, adding that families shouldn't be forced to move due to unaffordable flood insurance premiums.
“Risk Rating 2.0 affects Louisiana, the Gulf Coast, and frankly all coasts, or any place where there is a river or a stream that can overflow. It particularly affects people who are lower income. Sixty-two percent of all NFIP policies are in parishes and counties where the median household income is below the national average of about $54,000,” said Cassidy.
Cassidy said the flood insurance crisis isn't just a Louisiana problem but a national problem as 13 states have had over $1 billion in damage.
In 2023, the bipartisan National Flood Insurance Program Reauthorization Act of 2023 was introduced. Cassidy said this would reauthorize the program for five years, giving more stability for homeowners, small business owners and the real estate market amid inflation.
“My challenge to my colleagues is to designate someone on your staff to understand this issue and help move forward legislation that will reform this program," said Cassidy. "As we were committed to many other issues, there should be a commitment to this issue. Because there are Americans in every single state who are affected by this.”