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Flood Borrowing Passes House

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

By Matt Brady | Updated on February 15, 2006

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.

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