Sen. Lee Speaks on Flood Insurance Reform
WASHINGTON – Today, Sen. Mike Lee (R-UT) spoke from the Senate floor on the need to reform the National Flood Insurance Program. The speech reads, in part:
“Just under half of the $36.5 billion in new spending would bail out the National Flood Insurance Program. In the Houston area, 17 percent of homeowners were enrolled in NFIP. In Puerto Rico the numbers are even worse: Just 5,600 Puerto Ricans are enrolled in NFIP, less than one percent of homeowners. That means ninety-nine percent of Puerto Ricans won’t get anything at all from this $16 billion to NFIP. But then again, it’s not clear that NFIP recipients get much from NFIP to begin with.
…And that’s the sad irony of this bill. If the trend of deficit-fueled spending continues, one day soon we will wake up to the cries of our fellow Americans—and we will have nothing to give them in support. I hope my colleagues will work with me to find a more responsible way to help our brothers and sisters affected by the recent hurricanes. Congress has the authority to lead—especially over Puerto Rico, where we have plenary power. In this hour of crisis, we are the ones who must act. If we can only offer money and a pat on the head, it will be our fault when Americans continue to suffer.
Full text of the speech can be found here.
