Washington–House members grudgingly approved an increase in federal borrowing authority to $20.8 billion today to pay the costs of the financially strapped National Flood Insurance Program.
House lawmakers cautioned that the increase to the Federal Emergency Management Agency's borrowing authority could be the last unless significant reforms are included in the next request. FEMA is the flood program's parent agency.
The legislation, S. 2275, was agreed to by a voice vote, and would increase the agency's borrowing authority from $18.5 billion to $20.8 billion. The bill will now go to the Senate, which has written a version of the legislation that would raise the borrowing amount to $21.2 billion.
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