WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) delivered a speech on the U.S. Senate floor highlighting the urgent need for Congress to prevent the National Flood Insurance Program (NFIP) from expiring on September 30th and ensuring it remains affordable for the homeowner, accountable to the taxpayer, and sustainable for future generations.
“If we do nothing, every American enrolled in the National Flood Insurance Program—millions—will be without protection by the time the next flood season starts,”said Dr. Cassidy.
“I want to work with President Trump and my colleagues to make flood insurance affordable again,”concluded Dr. Cassidy.
Background
In June, Cassidy delivered a speech highlighting the need for NFIP to remain affordable, and led the charge in demanding the U.S. Federal Emergency Management Agency (FEMA) finally end the Biden-era policy, Risk Rating 2.0, which caused flood insurance premiums to skyrocket.
In May, Cassidy delivered another speech discussing the danger that Risk Rating 2.0 poses to low- and middle-income families’ ability to be enrolled in the program.
In April, Cassidy delivered a speech on the Senate floor calling for the continuation of FEMA’s Building Resilient Infrastructure and Communities (BRIC) grant program, which helps fund pre-disaster mitigation and flood prevention projects in Louisiana and nationwide.
In March, Cassidy delivered a floor speech calling for a long-term extension of NFIP and introduced legislation to extend the program through December 31, 2026. Cassidy also met with the Jefferson Business Council where he discussed his efforts to keep flood insurance affordable and extend NFIP long-term.
In February, Cassidy introduced the Flood Insurance Affordability Tax Credit Act to give low- and middle-income households enrolled in NFIP a 33% refundable tax credit to combat rising flood insurance premiums. Cassidy also released a report last fall outlining the current state of NFIP and the issues that have led to skyrocketing premiums for millions of homeowners.
Last year, the U.S. Senate Banking Committee held a hearing on NFIP at the request of Cassidy. The hearing highlighted the urgent need for Congress to act and featured a Louisiana witness. Cassidy also participated in a roundtable hosted by GNO, Inc. and the Coalition for Sustainable Flood Insurance to hear from community leaders and advocates on the issue.
Cassidy traveled St. Bernard Parish in 2023 to talk with residents about their flood insurance premiums, recording the second episode of his Bill on the Hill series.
Cassidy’s remarks as prepared for delivery are below:
Mr. President,
The country watched this month as a recovery effort took place in Texas.
We were all shocked by the disaster in Texas that claimed 135 lives and perhaps more.
You cannot listen to the stories without getting emotional.
26 feet of water rising in just 45 minutes.
For many Americans, that is hard to imagine—but not for as many as you might think.
According to the Federal Emergency Management Agency, nearly every parish and county in the United States has experienced flooding in the past few decades.
Not every state, every parish and county.
No place in our country is untouched by flooding.
Not New York City, which saw its second wettest hour in history this month as rain caused what a New York Post headline described as “terrifying, freak flash flooding.”
Not New Mexico, which saw deadly flooding this month, despite its dry climate.
We in Louisiana, as well as anybody, know that there is a tragedy which can result after flooding like this.
A tragedy in which people cannot afford to live in their homes—no matter what they do to prevent them from future flooding because of unaffordable flood insurance rates.
I am all about preventing the first tragedy—I have supported the Building Resilient Infrastructure and Communities—or BRIC—Grants.
And the Administration has assured me they’re going to release those funds.
I also want to prevent the second tragedy of people losing the place where they may have lived for decades, no matter what they do to prevent their homes from flooding again.
Not just because it’s destroyed, but also because it’s much tougher to get flood insurance for a reasonable rate on a property that has once flooded.
That is why I continue to work toward a solution on the National Flood Insurance Program.
Until the program is affordable for the homeowner, accountable to the taxpayer, and sustainable for future generations, Americans will continue to drop the program, leaving their homes vulnerable.
FEMA aid may be available to help people repair homes after federally declared disasters, but it often covers just a fraction of the costs.
And by the way, because of FEMA’s Risk Rating 2.0, people whose homes have NEVER flooded—or people who have taken measures so their homes will not flood again—are nonetheless forced to pay outrageous premiums.
You might think, “How can working Americans be expected to be able to afford flood insurance with such spikes?”
Or maybe you think, “It’s expensive, but some can still afford the program.”
Well, we have another problem threatening the program.
It will expire on September 30th!
If we do nothing, every American enrolled in the National Flood Insurance Program—MILLIONS—will be without protection by the time the next flood season starts.
The national emergencies will not stop.
The destruction will not end.
The threat of flooding will not vanish.
But your safety net will.
I am working on a long-term NFIP reauthorization and reform bill to stabilize the program and to protect taxpayers and communities.
When all Americans are affected, a federal response is necessary.
I want to work with President Trump and my colleagues to make flood insurance affordable again.
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