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Homeowner Flood Insurance Affordability Act of 2013

Floor Speech

Date: March 13, 2014
Location: Washington, DC
Issues: Finance and Banking Environment

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Mr. ISAKSON. I am going to be very brief in the interest of time. I wish to thank Senator Menendez for his leadership, Senator Landrieu for her leadership. Without their work this would not happen.

Let me tell you what this does. This bill corrects the unintended consequence of denying liquidity to coastal Americans in their housing and causing the unintended consequence of people not buying insurance and putting themselves and this country at greater risk in those areas that are prone to floods. It aggressively addresses the need we have to make this system more solvent and make it work better.

The Senate today will be solving a greater problem for coastal American residents and those in flood areas. They will be doing the right thing at the right time to correct an unintended consequence of an action of the Congress. I am honored to be a part of it.

I commend Senator Menendez and Senator Landrieu and thank them for their effort.

I yield back my time.

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