Pearce Votes to Protect the American Dream

Statement

Today, the House of Representatives voted on S. 1182 - National Flood Insurance Program Extension Act of 2018 that will extend the National Flooding Insurance Program (NFIP), which is set to expire July 31, 2018.

"New Mexico is all too familiar with the devastating affects flooding can have on our families, friends, neighbors, and communities. This is why I voted today in support of extending the NFIP through November 30, 2018. People from both sides of the aisle recognize that this program is in need of reform. However, voting against the program extension is not an option. Letting the NFIP lapse would not be beneficial to anyone, including the families trying to purchase affordable flood insurance, to the community banks and homebuilders that help make the American dream of homeownership a reality for so many."

"Now that Congress has extended the program, we must refocus on the reforms the program desperately needs. In November, the House passed a five-year reauthorization, which would provide long-term certainty for stakeholders, while also creating greater options for homeowners. There is no question that this program is outdated and in need of modernization, and I am hopeful that Congress can come together in meaningful reforms in the months to come."

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