OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Flood Insurance Reform and Modernization Act of 2006

Date: June 27, 2006
Location: Washington, DC
Issues: Unemployed and Low-Income Housing and Property


FLOOD INSURANCE REFORM AND MODERNIZATION ACT OF 2006

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Mr. HINOJOSA. Mr. Chairman, I rise in strong support of the Matsui/Hinojosa/Gene Green amendment to H.R. 4973.

I want to thank my colleagues, Congresswoman Matsui and Congressman Gene Green, and their staff for collaborating with me on this amendment.

This amendment will protect the ability of low-income individuals to purchase a home once the 500-year plain mapping section of this legislation has been completed.

Should it occur in the future, mandating flood insurance coverage for all those that fall in the 500-year floodplain map will add an additional burden to low-income individuals throughout the United States that might make them unable to afford a home.

I hasten to note that, in all likelihood, the majority of the United States will fall within these new borders. Such insurance requirements will tip the scale in the wrong direction, and low-income individuals will lose their home-buying power and be once again penalized more than those most fortunate in America.

This amendment's study will help ensure that low-income individuals receive the help they need when the 500-year floodplain maps are drawn.

I strongly encourage all of my colleagues to support this amendment.

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