WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA) and John Kennedy (R-LA) introduced legislation to extend the National Flood Insurance Program (NFIP) to give Louisiana families stability. The bill would extend the program through December 31, 2026, significantly longer than the typical short-term extensions passed by Congress.
“The purpose of an insurance program is to provide certainty. Renewing every two month is not that,” said Dr. Cassidy. “Let’s create this certainty for homeowners, realtors, and others working to build communities.”
“The National Flood Insurance Program isn’t perfect—but more than 400,000 Louisianians depend on it. I’m proud to help introduce this bill to give our state and millions of Americans reassurance that the program they depend on will stay in place while Congress works to improve it,” said Senator Kennedy.
In the last 10 years, Congress has passed 32 short-term NFIP extensions. Later this week, the U.S. Senate will vote on the 33rd short-term extension. These multiple short-term extensions directly undermine the NFIP’s ability to protect the 4.7 million policyholders who rely on it nationwide.
Cassidy’s flood insurance extension is supported by Greater New Orleans (GNO), Inc. and the National Association of Counties.
“Rather than experiencing a 33rd short-term extension, NFIP policyholders deserve certainty, and NFIP as a program requires stability. A two-year reauthorization will provide a runway for Congress and stakeholders to hold conversations and hearings around catastrophic insurance and towards highly-demanded comprehensive NFIP reform, like a means-tested benefit for affordability, a third-party review of the Risk Rating 2.0 methodology, and proper incentivization of flood risk mitigation,” said GNO, Inc. President Michael Hecht.
“Extending the National Flood Insurance Program would ensure continuous operations and greater stability for policyholders until a long-term reauthorization is enacted into law – a valuable source of certainty for counties and our residents,” said National Association of Counties Executive Director Matthew Chase. “Counties thank Senators Cassidy and Kennedy for their leadership, and we look forward to working with our bipartisan congressional partners to secure passage of this legislation.”
Background
In February, Cassidy introduced the Flood Insurance Affordability Tax Credit Act to give low- and middle-income households enrolled in the National Flood Insurance Program (NFIP) a 33% refundable tax credit to combat rising flood insurance premiums.
Last year, Cassidy has delivered a series of speeches on the U.S. Senate floor calling for action on NFIP. Most recently, he highlighted the need for the Flood Insurance Affordability Tax Credit on the Senate floor.
In October 2024, Cassidy released a report outlining the current state of the NFIP and the issues that have led to skyrocketing premiums for millions of homeowners.
In January 2024, 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 GNO, Inc. President Hecht as a witness. Cassidy also participated in a roundtable hosted by GNO, Inc. and the Coalition for Sustainable Flood Insurance before introducing the bill 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.
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