Senate approves 60-day extension of the National Flood Insurance Program
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WASHINGTON—The Senate has approved a measure that would extend the National Flood Insurance Program for 60 days beyond its May 31 expiration date.
The approval came Thursday afternoon. A day earlier, Sen. David Vitter, R-La., issued a statement saying he had reached an agreement with Senate Majority Leader Harry Reid, D-Nev., to allow debate this year on a bill that would extend the NFIP for five years.
“The National Flood Insurance Program has been barely hobbling along with a Band-Aid approach—extending it for short periods of time,” said Sen. Vitter the statement. “Reaching an agreement to allow the Senate to fully debate this on the floor and to work on getting it reauthorized for five years will be great, much-needed news for homeowners and the housing market. Moving the ball forward on this is a big, big step, especially as we approach hurricane season.”
The House of Representatives already had approved legislation that would extend the program for five years but, faced with Senate inaction, recently gave its approval to a stopgap measure that would extend the program through June 30.
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