Christian Britschgi of Reason reports that a House Democrats’ housing bill includes a $20 billion bailout for the National Flood Insurance Program (NFIP).
- While well intentioned, the NFIP has become a program that is in serious need of reform and is $20 billion in debt.
- The NFIP fails to accurately assess risk which incentivizes poor building practices and puts people in harm’s way.
- Instead of issuing another bailout, Congress should reform the NFIP to make it a more sustainable program that accurately reflects flood risk.
Read the full article here.