Congress Tackles Flood Insurance Reform Agains

The troubled National Flood Insurance Program has been on been on a short fiscal leash for years, hobbling from one fiscal year to the next with short-term funding from temporary authorization bills. Last year, Congress gave the program a one-year extension that expires on September 30, 2011. Now, lawmakers are considering proposals to reauthorize the program for five full years — but there’s debate about how to reform the program at the same time in order to address its structural flaws. On May 13, the House Financial Services Committee unanimously approved Illinois Republican Congresswoman Judy Biggert’s reform and reauthorization bill