Blockage of National Flood Insurance Program No Joke For Florida Families

(Washington, DC) — Rep. Debbie Wasserman Schultz (FL-20) condemned Senate Republicans for blocking a crucial extension of the National Flood Insurance Program (NFIP). This lapse affects thousands of homeowners across Florida who applied for new policies in the past few days or those who are up for renewal now. The program expired March 28.

Lenders require individuals purchasing a property considered in a high-risk flood zone to have flood insurance before closing on a mortgage. The earliest Senate lawmakers could reconsider renewing the program is April 12th when they return from recess.

“It is very careless of Senate Republicans to play political games by allowing the National Flood Insurance Program to expire,” said Rep. Wasserman Schultz. “Many families try to close on homes at the end of the month. Add to this the fact that first-time buyers need to have homes under contract by April 30th in order to qualify for the federal home-buyer tax credit, and you have a crisis for families in Florida trying to purchase a home. And with hurricane season right around the corner, the need for reinstating the federal flood insurance program is urgent.”

Congress created NFIP to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding

“We passed the legislation extending the flood insurance program out of the House of Representatives on March 17th and Senators have an obligation to set their party differences aside and pass the funding to continue this vital program,” said Rep. Wasserman Schultz. “The Senate should pass this short-term extension and then we need to work together to pass a permanent extension with improvements to the program.”