From Capitol Hill: Flood Insurance Extension Quickly Approved in ...

May 27, 2012

The Senate on Thursday afternoon approved a two-month extension of the National Flood Insurance Program (NFIP), an action that was made possible by an agreement Senate Majority Leader Harry Reid (D-Nev.) made to take up a longer-term five-year reauthorization when the Senate returns from the Memorial Day break. The Senate approved the extension by unanimous consent, after Reid declared, ?If it were to expire ? real estate transactions would come to a screaming halt. Taxpayers would be on the hook for future disasters. This is something we have no choice, we have to get it done.? The bill still needs to pass the House. C

Crazy, who has time to go back in session and call for another vote when the reality is?. there are entire metropolitan cities in the U.S. that need flood insurance to go to an Act of Sale. Almost all of the southern states, and now some parts of Iowa, Ill, the Dakota?s, Missouri and Georgia.

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