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Public Statements

Temporary Increase in Borrowing Authority for National Flood Insurance Program

Floor Speech

Location: Washington, DC

Mr. ISRAEL. Madam Speaker, I rise in strong support of the bipartisan legislation on the floor today that will provide much needed relief for my constituents. H.R. 41 will replenish the National Flood Insurance Fund, which would otherwise run out of funds and be unable to pay out claims next week. That would be simply unacceptable for the homeowners and businesses that I represent who have already gone through so much.

New Yorkers were devastated by Hurricane Sandy and we are just beginning to recover. I am glad that the House Republican leadership has responded to the bipartisan outcry for action to help families, businesses and communities in my district. We must act swiftly on the remaining federal resource needs for the Sandy victims.

We all can agree that this recovery needs to be bold and it needs to be implemented quickly--and that's what we are working on. Together, both sides of the aisle from the New York, New Jersey and Connecticut Congressional delegations have come together to address this immediate and urge need to meet the needs of flood insurance claims by all of our constituents.

FEMA has said there are a total of 120,000 flood insurance claims payments that will be delayed until Congress increases the borrowing authority for the program--of which 115,000 are related to Superstorm Sandy. Any delay is unacceptable and that is why I urge swift passage of this bill and prompt action in the Senate.

I implore my colleagues to join me in supporting this bill. We simply need to help my constituents and allow all of those who have been devastated by this storm to move forward with their lives and rebuild stronger than ever.

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