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Vote Alert: Extend a broken and almost-insolvent flood insurance program

Conservative Review

Politicians like to talk about eliminating wasteful government programs, but when the opportunity comes along to do it Congress almost always chooses to continue to waste money.

The National Flood Insurance Program (NFIP) is an excellent example of government waste. With this program, Americans who live inland subsidize the cost of insurance for those living in flood zones, predominately coastal areas prone to hurricane flooding. When a hurricane rolls through and destroys homes, Uncle Sam picks up the tab — offering cheap insurance at the taxpayers’ expense and incentivizing people to live in these areas without taking proper precautions against flooding. These perverse incentives actually make flooding disasters worse by encouraging over-development as the true cost of flood insurance is hidden.

The NFIP was set to expire at the end of July but Congress voted to reauthorize it without implementing any needed reforms to rescue the program from insolvency, despite pledges from Republican leadership for reform. Already $20.5 billion in debt, this government monopoly on primary flood insurance is a burden on American taxpayers, contributing to the growing $21 trillion national debt and requiring a bailout every few years to keep the program running.

Government should not be involved in an industry that is best left to the private market and taxpayers should not be on the hook to support a program that is proven to lose money year after year.

The House of Representatives voted to reauthorize the National Flood Insurance Program on July 25, 2018 at 2:11 p.m. in a roll call vote of 366 – 52.

The Senate voted to extend the National Flood Insurance Program on July 31, 2018 at 12:16 p.m., in a roll call vote of 86 - 12.

To see how your elected officials stack up or other votes that compose the Liberty Score, view our full scorecard here.

Conservative position: NO

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