The insurance industry and allied trade groups are launching a full-court press to ensure Senate action on flood legislation before the current authorization expires May 31.
Thirteen insurance, mortgage, banking and conservancy groups are joining the effort, called “Flood the Hill.”
The “Flood the Hill” campaign wants a Senate-floor vote on the bill, S. 1940.
“Flood-insurance reform is closer to becoming law than it ever has been before,” says Matt Gannon, assistant vice president of federal affairs for the National Association of Mutual Insurance Companies. “'Flood the Hill' will hopefully get us over the goal line.”
Gannon says more than 40 Senators have signed a letter of support for the bill, and at a February press conference, Sen. Jon Tester, D-Mont., said he believed the bill would easily get the 60 votes needed to move legislation in the Senate.
Gannon says that in local economic terms, “Every day of a lapse of the NFIP will delay hundreds of real-estate transactions from closing.”
He says that with the deadline approaching, some efforts have been made to create another short-term extension for the program, leaving it in its current state. Gannon repudiated the idea as self-defeating, saying it essentially “gives up on the goal of a stronger NFIP without a fight.”
Gannon argues that “Congress has punted on this issue too many times already, and we shouldn't accept more of the same.”
He adds, “We're conditioned to expect the worst given their track record, but this diverse group 'flooding' the Hill next week believes a strong message already shared by so many Senators can finally induce action and reform.”
The initiative is aimed at encouraging thousands of Americans to contact their lawmakers through phone calls, emails and in-person meetings.
The campaign is set to launch the week of May 7—the first in a three-week stretch during with the Senate can act before the NFIP expires on May 31.
The coalition behind the campaign includes groups from across the spectrum of NFIP-reform supporters, including the National Association of Realtors, National Wildlife Federation, Mortgage Bankers, Nature Conservancy, Consumer Bankers Association and American Land Title Association.
Along with NAMIC, the insurance industry is represented by the American Insurance Association, the Property Casualty Insurers Association of America, the Reinsurance Association of America and the National Association of Professional Insurance Agents.
The Senate bill was reported out by the Senate Banking Committee last September, and has languished on the Senate floor.
The primary reason is concern by the Senate leadership that the bill will be used as an engine for votes on unrelated provisions that either Republicans or Democrats can't support.
In comments at a number of venues, Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, has said that action on most legislation, including tax legislation, is unlikely until after the election.
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