National Flood Insurance Program Extension Act of 2019

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 2578, a bill to enact a short- term extension of the National Flood Insurance Program. This program has over 5 million policyholders who have come to rely upon it, but it is also a flawed program that is in need of a customer-based set of reforms.

Flooding is the most common, destructive, and expensive of the natural disasters we face. I am confident in saying what worked in the Lyndon Johnson administration on disasters doesn't really work this year, in 2019.

The Financial Services Committee has held numerous hearings on this matter over the last decade, hearing from dozens and dozens of witnesses from all points of view, including consumers, local communities, and the insurance industry. The data we have accumulated from those hearings, or lack thereof, suggests that there is great need for programmatic reforms, reforms that include better data, increased transparency, better technology, and more innovation. These can be bipartisan reforms.

Moreover, the NFIP owes more than $20 billion in debt to the American taxpayer. This is a major issue, despite the fact that last Congress $16 billion of that debt was canceled. So it is a program in need of systemic reforms.

So what kind of National Flood Insurance Program do we want to have for Americans going forward? An insurance program that is equipped with the tools it needs to perform its insurance functions, pay claims, incentivize mitigation, and ultimately reduce our Nation's flood risk, or should the NFIP continue the current system of distributing benefits as needed, ultimately requiring annual appropriations as flood risk grows?

I hope that Members of this House will choose to support important reforms to modernize an outdated program. There are reasonable steps that we can take to reform and innovate in a bipartisan fashion. Strengthening the NFIP and giving policyholders 21st century options to match their 21st century expectations, I think, should be our outcome.

Private insurance, better technology, more mapping data, faster claims processing, and rethinking old underwriting models are just a few of the tools readily available for modernizing the NFIP.

At the same time, we must also consider how we can use risk sharing to offload some of the NFIP burdens and the cost savings that come from spreading risk to others who are qualified, capable, and willing to manage it off the backs of the taxpayers and more broadly distributed to those who are willing to take that risk.

Building a more resilient and cost-effective NFIP are goals that will benefit all consumers and the American people, but these are long-term goals to which we can only aspire by passing this short-term extension today.

Mr. Speaker, I am grateful for Chairwoman Waters' engaging and reaching out to committee Republicans to work together on this measure to give us space and time so that we can have the bipartisan reforms that I think we can come to terms on later this year. But I also want to thank Chairwoman Waters for agreeing to sit down with me as the ranking Republican on the committee and committee Republicans, roll up our sleeves, and get to work over the next few weeks and really collaborate on a full reauthorization bill that addresses her concerns, my concerns, committee Democrat and Republican concerns, and the needs of the public. I think we can come to that conclusion.

I think we can bring a bipartisan bill to the floor, and I appreciate that Chairwoman Waters has had that appropriate outreach to committee Republicans. That is a hopeful sign for our opportunity to legislate this Congress.

The American people deserve an effective and efficient Flood Insurance Program that they can rely on. By working together in a bipartisan way, this Congress can ensure that that continues to happen, and I am sure we can meet that expectation.

Mr. Speaker, I would encourage my colleagues to support this short- term extension with the hope and the goal of our bringing a bipartisan bill back before the House that can get the wide support of this Chamber.

Mr. Speaker, I also commend the engagement of Chairwoman Waters on this matter and a number of other matters where we have been able to work together in a bipartisan way. I am hopeful and it is my expectation that we will be able to work together on this matter over the coming weeks.

Mr. Speaker, I ask my colleagues to vote ``yes'' on this bill, and I yield back the balance of my time.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2578) to reauthorize the National Flood Insurance Program, and for other purposes.

Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks on this legislation and to insert extraneous material thereon.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of my bill, H.R. 2578, the National Flood Insurance Program Extension Act of 2019.

Since the National Flood Insurance Programs' multiyear authorization expired on September 30, 2017, ideological differences have led Congress to pass 10 short-term extensions and even allowed the program to briefly lapse twice during government shutdowns.

Unfortunately, the National Flood Insurance Program is currently set to expire May 31. My bill, which I have coauthored with Ranking Member McHenry, would extend the program to September 30 because we recognize that the NFIP is critical to ensuring access to flood insurance coverage across this country. This extension will afford the ranking member and me time to complete our work on a long-term, bipartisan compromise.

Mr. Speaker, the NFIP is much more than just an insurance program. The NFIP plays an important role in disaster preparedness and resiliency by providing flood maps, setting standards for floodplain management, and investing in mitigation for our homes, businesses, and infrastructure.

According to the Federal Emergency Management Agency, everyone is at risk of flooding. That means that this is not just a coastal issue. We all have an interest in ensuring a strong National Flood Insurance Program. We need a long-term reauthorization to provide certainty to homeowners and businesses, and we also need critical reforms to the program.

First and foremost, we must do more to address unaffordable premium costs for low-income households; address the program's debt, which is unfairly burdening policyholders with millions of dollars in interest; and lower costs and fees on policyholders.

Secondly, we need to invest more heavily in mapping, floodplain management, and mitigation, which will save taxpayer dollars in the long run by helping to reduce the damage that occurs when floods hit.

Finally, Superstorm Sandy exposed numerous issues related to claims processing, including findings of outright fraud. Going forward, we must work to ensure that we have safeguards in place and mechanisms for greater accountability and oversight to ensure that claims are handled fairly and efficiently to provide relief for policyholders.

Mr. Speaker, passing H.R. 2578 is not just a stopgap measure to kick the can down the road. I have every confidence that, with this extension, Democrats and Republicans will finally break the cycle of haphazard extensions. I intend to work in a bipartisan manner with Mr. McHenry to provide a long-term reauthorization to restore stability and confidence in the market. Through a thoughtful, bipartisan process, Congress can provide real relief to families, communities, and businesses.

Mr. Speaker, I urge the adoption of the bill, and I reserve the balance of my time.

Mr. Speaker, I yield myself the balance of my time.

Mr. Speaker, I am proud to stand with the millions of families across the country who rely on the National Flood Insurance Program by offering H.R. 2578 here today.

My bill will provide continuity for the NFIP without which these families would be left unprotected in the face of increasing flood risk. What is more, without the NFIP, the stability of the housing market would be put at risk.

My coauthor, Mr. McHenry, and I offer this bill today not as a permanent solution, but as a step towards a broader plan that will reauthorize the program for the long term and make reforms to ensure continued availability, affordability, and fairness in flood insurance.

Mr. Speaker, I am very pleased for the coming together of Mr. McHenry and myself to present a bipartisan bill on behalf of all of our citizens. I urge all of my colleagues to support H.R. 2578, and I yield back the balance of my time.

Mr. President, I understand there are two bills at the desk due for a second reading en bloc.

In order to place the bills on the calendar under the provisions of rule XIV, I would object to further proceeding en bloc.

Mr. President, I understand that there are two bills at the desk, and I ask for their first reading en bloc.

I now ask for a second reading, and I object to my own request all en bloc.