Nat’l Flood Insurance Program Still Broke

The United States Senate wanted to have $60.4billion supplemental aid to cover up for Sandy damages and allow the National Flood Insurance Program (NFIP) to have an increased borrowing capacity. However, the House of Representatives only approved $9.7 billion on Friday, Jan. 4.

The remainder will still be debated upon by the House.

The bill that pushed for the $9.7 billion Sandy aid was proposed by Rep. Scott Garret, a Republican from the 5th district of New Jersey.  The bill was approved by the House with 354-67 votes, garnering more than two-thirds majority vote needed for its passage.

The said amount will be used to replenish the coffers of the NFIP whose funds are already running out with still over 100,000 claims delayed. Rep. Rush Holt, also a representative from the Garden State believes that the initial amount will not nearly cover everything necessary on the current Sandy relief efforts.

It has been reported that the $51 billion remaining amount intended for Sandy aid would still be debated and will come up to vote on Jan. 15.

Two governors whose states experienced great damages from the superstorm had already issued a statement calling for the Congress to move hastily for the remainder of supplemental aid. New York Gov. Andrew Cuomo and New Jersey Gov. Chris Christie are trusting that legislators will act accordingly on Jan. 15.

The senate was able to pass the bill for the $60.4 billion aid on the last week of December. Republican House members showed opposition to the bill saying that the proposal is laden with pork projects not related to the storm.

The supplemental aid funding came to a vote in the House after two months when the superstorm hit the United States leaving more than a hundred people dead and thousands of homes damaged. States in the northeast were the ones most hit by Sandy.