[Congressional Record Volume 164, Number 120 (Tuesday, July 17, 2018)]
[Extensions of Remarks]
[Page E1021]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  PROMOTING FLOOD RISK MITIGATION ACT

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                               speech of

                          HON. EARL BLUMENAUER

                               of oregon

                    in the house of representatives

                         Monday, July 16, 2018

  Mr. BLUMENAUER. Mr. Speaker, the National Flood Insurance Program 
shortchanges taxpayers and those who pay flood insurance premiums, 
while placing communities and families at risk. For more than 20 years, 
I have worked to reform the program, and I am pleased that a small 
piece of our broader reform effort--the Promoting Flood Risk Mitigation 
Act--has passed the House of Representatives.
  The flood insurance program is currently more than $20 billion in 
debt. This figure keeps rising as we see more devastating hurricanes 
and extreme weather events across our country. Part of the runaway cost 
of the program is due to the insuring of properties that have flooded 
repeatedly. In fact, a quarter of all claims paid by the flood 
insurance program are for repeatedly flooded properties, even though 
they make up less than two percent of properties covered by the 
program. For the safety of our communities and fiscal security of the 
country, Congress must do more to help those trapped in flood-prone 
areas move to safer land.
  The Promoting Flood Risk Mitigation Act tasks the Government 
Accountability Office (GAO) with studying the efficacy of the National 
Flood Insurance Program (NFIP) buyout programs for properties at high 
risk of flooding and those that are repeatedly flooded.
  While this bill is just a small step, if we invest in our communities 
before disasters occur, we will save money, save property, and most 
importantly, save lives. My hope is that Congress can actually 
implement the recommendations of this study in an upcoming 
reauthorization, saving taxpayer dollars and providing help to those 
stuck in repeatedly flooded properties.

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