ThedaBenjaathon
02-15-2006, 06:55 PM
Congress has voted to increase the federal flood insurance agency’s power to borrow money that is used to help rebuild areas after a natural disaster has occurred. However, several Congressional members stated that they would not support the measure without securing several modifications on the system to ensure efficiency.
"In a voice vote, the House approved a measure to increase from $18.5 billion to $21.2 billion the amount the National Flood Insurance Program can borrow from the Treasury. The Senate passed the bill last week."
"Several lawmakers said they would oppose putting more money into the agency without a legislative overhaul of the system to prevent people from rebuilding on property that suffers repeated flood damage."
To learn more go to: http://www.nytimes.com/aponline/national/AP-Flood-Insurance.html?_r=1&oref=slogin
"In a voice vote, the House approved a measure to increase from $18.5 billion to $21.2 billion the amount the National Flood Insurance Program can borrow from the Treasury. The Senate passed the bill last week."
"Several lawmakers said they would oppose putting more money into the agency without a legislative overhaul of the system to prevent people from rebuilding on property that suffers repeated flood damage."
To learn more go to: http://www.nytimes.com/aponline/national/AP-Flood-Insurance.html?_r=1&oref=slogin