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Waters Statement in Response to FEMA’s Affordability Framework for the National Flood Insurance Program
This data-driven report underscores Waters’ longstanding calls to increase affordability for low-income homeowners.
Washington, DC, April 18, 2018
Tags: Flood Insurance
In response to the Federal Emergency Management Agency’s (FEMA) report entitled, “An Affordability Framework for the National Flood Insurance Program,” Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, made the following statement:
“I am pleased that FEMA has finally delivered the affordability framework that I and other Members enacted in the Homeowner Flood Insurance Affordability Act. The framework confirms what I have long known – the National Flood Insurance Program (NFIP) is not just a program for wealthy beachfront homeowners. In fact, with this framework, FEMA confirms that low-income homeowners and renters tend to live in the highest flood hazard areas. Indeed, we now have evidence to show many of the low-income families in special flood hazard areas actually inherited their homes or are retirees who are particularly vulnerable to unaffordable flood insurance premiums. Now that Congress has the data to better understand the complete picture, it is imperative that we look at these facts in considering any reforms to the NFIP. I call on my colleagues in the Senate to reject the misguided reforms in H.R. 2874, the so-called 21st Century Flood Reform Act, which would undoubtedly make this affordability crisis worse, and work with me to enact an affordability program that is appropriately tailored and funded.”
Ranking Member Waters has expressed longstanding concerns about flood insurance affordability.