WASHINGTON–The Bush administration flatly opposes expanding the National Flood Insurance Program to include windstorm coverage, a Treasury official told a House subcommittee today, placing a major roadblock in the path of legislation to expand the program.
Assistant Secretary for Economic Policy Phillip Swagel said in testimony before the House Financial Services Subcommittee on Housing and Community Opportunity that “the administration opposes H.R. 920.”
The hearing was held to gain the views of congressmen, state insurance commissioners, industry groups and consumers concerning the Multiple Peril Insurance Act of 2007.
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