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Temporary Increase in Borrowing in Authority for National Flood Insurance Program

Floor Speech

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Date:
Location: Washington, DC

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Mr. GENE GREEN of Texas. Madam Speaker, today I rise in support of H.R. 41, to temporarily increase the borrowing authority of FEMA for carrying out the National Flood Insurance Program.

This bill would provide FEMA with an additional $9.7 billion in emergency funding to immediately assist those affected by the storm.

In late October 2012, Hurricane Sandy struck the East Coast of the United States, affecting millions of Americans and killing over 100.

The economic cost of the storm is still being assessed, but it has been estimated to be in excess of $60 billion, which would make it the second-costliest storm in history, after Hurricane Katrina.

Our nation has a responsibility to rebuild the areas that were devastated by this terrible tragedy and I am committed to making sure that Congress helps provide the necessary resources to help those individuals and communities which were harmed by this disaster.

It is important to recall that four years ago, Congress, with my strong support, provided nearly $23 billion in disaster relief for communities like our own due to the devastation from Hurricane Ike.

I stand with my colleagues from the East Coast, especially from New York, New Jersey, and Connecticut to get the funding necessary to aid the recovery from Hurricane Sandy. As Americans, we all have a responsibility to help each other during times of need.

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