Newsroom

July 8, 2011 – NAFCU Executive Vice President of Government Affairs Dan Berger on Thursday urged House leaders to support passage of H.R. 1309, a bill slated for House consideration today that would provide a five-year extension of the National Flood Insurance Program.

The program is currently operating under a temporary extension that expires Sept. 30. Berger decried the program's series of short-term extensions in previous years that has left millions wondering if flood insurance will be there when they need it.

"These lapses create a high level of uncertainty, leaving millions of American families who rely on flood insurance wondering if they would be covered in the event of a disaster," he said in a letter to House Speaker John Boehner, R-Ohio, and Minority Leader Nancy Pelosi, D-Calif. "This is especially unacceptable to our nation's credit unions and their members given that the housing market is so vital to our economic recovery."

People can still buy homes and credit unions can still take flood insurance applications during program lapses, but no new policies or coverage increases are approved during those times.

If enacted, H.R. 1309 would extend the NFIP through Sept. 30, 2016, "providing the certainty necessary for the continued recovery of our real estate, insurance and financial markets," Berger said.

Congress is focusing primarily this week on the federal debt limit and deficit reduction, but the House is poised to begin consideration of H.R. 1309 today.

So far, the House is scheduled for a district work period the week of July 18. Both the House and Senate are scheduled to be in recess from Aug. 8 through Labor Day.