KEY VOTE ALERT
“NO” on the Senate Flood Insurance Bill (S 1926)
The Club for Growth urges all Senators to vote “NO” on the Homeowner Flood Insurance Affordability Act of 2014 (S 1926). A vote is expected later today. The vote on final passage, and/or any procedural votes, will be included in the Club’s 2014 Congressional Scorecard.
This bill delays the much needed phase out of certain flood insurance subsidies for four years. The National Flood Insurance Program (NFIP) itself unfairly transfers risk from homeowners in flood-prone areas to taxpayers. And that risk has manifested itself in recent years to the tune of $24 billion. The Government Accountability Office has even deemed the NFIP as a “high-risk government program” because it keeps premiums actuarially too low. Rather than continue this unfair program that is hostile to liberty and limited government, Congress should end the NFIP and return the flood insurance industry back to the private sector.
Our Congressional Scorecard for the 113th 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.