U.S. Sen. David Vitter today announced that the National Flood Insurance Program will be the next item of business in the U.S. Senate following conclusion of the Farm Bill. Senate Majority Leader Harry Reid has officially filed "cloture" on the measure signaling it will be debated in the near future. Vitter has been working to get a bipartisan full five year reauthorization of the NFIP passed.
"The National Flood Insurance Program has been barely hobbling along with a Band-Aid approach -- extending it for short periods of time. Moving to a full five year reauthorization on the floor is great, much needed news for homeowners and the housing market," Vitter said. "I'll continue urging my colleagues to get this across the goal line so we can give hundreds of thousands of Americans who rely on flood insurance some peace of mind."
Last year, Vitter authored and passed legislation extending the NFIP through May 31, 2012. The NFIP was last fully reauthorized in 2004 and has since been sustained by thirteen short-term extensions. Before that extension expired, Vitter was able to get the program extended through the end of July to ensure the Senate had the necessary time to bring up the five year reauthorization.
Vitter's serves on the U.S. Senate Committee on Banking, Housing and Urban Affairs, which in September approved a bill to extend the NFIP through 2016. The Senate will be voting on legislation very similar to that bill.
Vitter, who serves as ranking member of the Banking Committee's economic subcommittee with jurisdiction over NFIP, worked closely with Senate leadership to get the reauthorization to the Senate floor.