Wicker and Hyde-Smith Support Affordable Flood Insurance Plan


U.S. Senators Roger Wicker and Cindy Hyde-Smith helped reintroduce legislation to implement a long-term reauthorization of the National Flood Insurance Program (NIFP) and ensure more affordable premiums for policyholders in Mississippi and across the country.

The National Flood Insurance Program Reauthorization and Reform Act (NFIP-RE) (S.3128) is a bipartite, bicameral effort to extend the NIFP for five years until September 30, 2026 and to allow reforms to help policyholders and ensure the long-term success of the program.

“The NFIP is a lifeline for many communities in Mississippi that remain at risk of flooding,” Wicker said. “After an active flood season, it is clear that the NFIP not only needs to be re-authorized, but also needs to be reformed to make it work better for taxpayers and policyholders.”

“Flooding is a constant threat across Mississippi and fundamental problems within the national flood insurance program are causing unnecessary economic and emotional trauma to thousands of families,” Hyde-Smith said. “It’s time we took resolving what is wrong with the program seriously, while implementing reforms that will benefit taxpayers and policyholders in the long run.” ”

The NFIP RE Act would address systemic issues within the NFIP, orient the program towards solvency, and invest more in cost-effective prevention and mitigation projects in order to save the high cost of post-flood reconstruction. Click here to read more

Source link

Leave A Reply

Your email address will not be published.