[Congressional Record (Bound Edition), Volume 158 (2012), Part 7]
[Senate]
[Pages 9748-9749]
[From the U.S. Government Publishing Office, www.gpo.gov]




       SMALL BUSINESS JOBS AND TAX RELIEF ACT--MOTION TO PROCEED

  Mr. REID. Mr. President, I now move to proceed to Calendar No. 341, 
S. 2237.
  The PRESIDING OFFICER. The clerk will report the motion.
  The assistant legislative clerk read as follows:

       Motion to proceed to Calendar No. 341, S. 2237, a bill to 
     provide a temporary income tax credit for increased payroll 
     and extend bonus depreciation for an additional year, and for 
     other purposes.

  The PRESIDING OFFICER. The Senator from Montana.


                            Flood Insurance

  Mr. TESTER. Mr. President, I rise in support of a bill we will take 
up soon to reauthorize the Flood Insurance Program. Nine months ago the 
Senate Banking Committee passed long-term flood insurance 
reauthorization with overwhelming bipartisan support. Five months ago 
Senator Vitter and I, along with 39 Members of this body, wrote our 
leadership urging that the bill be brought to the floor, but today, 
this week, we will finally consider this much needed piece of 
legislation, and I thank Senator Reid for his willingness to bring it 
to the Senate floor.
  I want to first and foremost thank Chairman Johnson and Ranking 
Member Shelby for their excellent work in

[[Page 9749]]

drafting this bill. I commend them for their efforts to build consensus 
on this important piece of legislation.
  I thank my colleague Senator Vitter for his leadership and 
partnership in working with me to help influence this bill in a way 
that reflects broad bipartisan support. Together we added a number of 
provisions to improve the initial draft. These provisions include one 
that addresses a critical issue in my State.
  When this bill is passed, the Army Corps of Engineers and FEMA will 
finally have to work together to develop common standards that will 
allow existing Corps levee inspections to meet FEMA certification 
criteria.
  We also lengthened the phase-in period for homeowners who must 
purchase flood insurance for the first time as a result of being mapped 
into a floodplain, so that as changes to the maps occur, folks are not 
forced immediately into high-priced premiums.
  This bill takes important steps to more closely align risks with 
premiums. It makes changes to protect taxpayers, and it puts the 
program on a more solid financial ground.
  The House and Senate have never produced two flood insurance bills as 
closely aligned as the bills we have before us, and I am not sure we 
have ever had the same strong broad support we have now from 
homeowners, realtors, insurers, state insurance regulators, and 
environmental groups. That is a real testament to my colleagues on the 
Banking Committee, and I look forward to finally sending a long-term 
reauthorization and reform bill to the President's desk for his 
signature.
  Unfortunately, we have seen the consequences of reauthorizing this 
program on a short-term basis, and we have seen the consequences of 
letting this program lapse. We have been down that road before and have 
seen how unproductive and destructive lapses can be. Past lapses in the 
program created uncertainty for homeowners and created significant 
burdens for those participating in the Flood Insurance Program. When 
the program lapsed in 2010, about 1,400 home sales were canceled each 
day during those 53 days the program lapsed. At a time when the housing 
market is still fragile, this is something we cannot afford.
  For me this is an issue that hits home. The unprecedented flooding in 
the Missouri River basin last year, which affected folks throughout 
central and eastern Montana, particularly in Musselshell and Carbon 
Counties, clearly demonstrates the need for reauthorization and for 
reforms to ensure that levees are certified properly and efficiently.
  I also care deeply about this program because in addition to 
protecting Montana homeowners, there are jobs tied directly to the 
Flood Insurance Program. In Kalispell, MT, two of the national 
servicing organizations employ over 500 people--jobs that could be put 
in jeopardy without a long-term agreement.
  We must offer Americans certainty in the face of risk. Now, at long 
last, comprehensive, bipartisan, long-term reauthorization of the 
National Flood Insurance Program is within reach. Let's quickly act to 
provide security and piece of mind to the 6 million Americans who rely 
on the National Flood Insurance Program.
  I yield the floor and suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. CONRAD. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

                          ____________________