KEY VOTE ALERT
"NO" on Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121)

The Club for Growth urges Members of the House to vote "NO" on the Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121). This key vote will be part of our 2007 Congressional Scorecard.

The worst provision in this very troublesome bill is that which would require the National Flood Insurance Program to offer coverage for wind risks from hurricanes, potentially putting taxpayers on the hook for more than $100 billion.

Adding hurricane risks to the NFIP is a major mistake because that program has been mismanaged for years, and there is no evidence it has the expertise to manage such a complex new insurance program or charge rates that reflect the risks. This add-on would dramatically increase spending, crowd out private coverage, stifle risk management innovations and put more lives and property at risk through subsidization of development in high-hazard areas. This expansion should be vigorously opposed.

Congress should instead end the tax on reserving for hurricanes, which would make catastrophe insurance more available and affordable.

Our Congressional Scorecard for the 110th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.