ASFPM Supports Administration’s Hurricane Assistance & NFIP Debt Forgiveness

ASFPM has sent letters to the Executive Office of the President and leaders in Congress in response to the Administration proposal for Congress to provide more disaster relief for Harvey, Irma and Maria, which includes $16 billion in NFIP debt as well as a number of NFIP reforms as part of that package.

Letter from OMB Director Nick Mulvaney here.

ASFPM has long supported NFIP debt relief, but strongly objects to considering 15 NFIP reform ideas as part of this package. Both houses of Congress have considered numerous provisions as part of the NFIP reauthorization, which now had a Dec. 8, 2017 deadline. Addressing these outside of the comprehensive NFIP reauthorization is simply a bad idea. Many of these proposed reforms can have negative, adverse consequences for the long-term health of the NFIP (as well as taxpayers) and need to be considered as part of comprehensive reform of the NFIP reauthorization process.

Letter from ASFPM Executive Director Chad Berginnis to Administration here.

Additional information on this issue will be provided by ASFPM as it becomes available. Please check our website and social media sites often to keep abreast