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25 February 2018

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House panel forgives $16bn NFIP debt but omits reforms

Ted Bunker 11 October 2017

The National Flood Insurance Program would have $16bn erased from the estimated $30bn it owes the US Treasury under a bill that passed the Appropriations Committee of the House of Representatives late Tuesday.

But the measure leaves out reforms of the NFIP, as the programme is known, sought by the White House, including one to phase out availability of the government paper for newly built homes and commercial structures.

The NFIP debt relief is part of an $36.5bn disaster aid...

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