The chairman of the Senate Banking Committee today hedged when asked whether he would support a 50 percent increase in the borrowing authority of the National Flood Insurance Program.
In comments to Politico, Sen. Tim Johnson, D-S.D., banking panel head, said that raising the borrowing authority "is the primary solution" to providing the money needed to pay Sandy claims, but that he is "looking at alternatives."
Johnson said, "That's the only solution I see, but I could be wrong," adding that he is "looking at other options to determine what my choices are."
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