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Draft legislation to overhaul National Flood Insurance Program released

Democrats and Republicans have found common ground on plans to give private insurers greater access to the $5 billion flood insurance program.

By Christopher Flavelle | Updated on May 26, 2017
In the draft legislation released Thursday, Republicans propose ejecting from the NFIP homeowners who keep getting flooded but don’t want to sell their houses. (AP Photo/Marcio Jose Sanchez)

(Bloomberg) – Democrats and Republicans, who have agreed on little this year, have found common ground on plans to give private insurers greater access to the $5 billion flood insurance program and to offer more buyouts for homeowners in areas likely to be repeatedly submerged.

“Flood insurance seems to be one of those few areas where Democrats and Republicans see the same problems and, in a lot of instances, see the same solutions,” Rob Moore, a senior policy analyst with the National Resources Defense Council, said in an interview.

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