Legislators Pass National Flood Insurance Program Bill

A controversial flood insurance bill has been passed in the House as Republicans overcame bipartisan opposition. This legislation will both reauthorize and overhaul the National Flood Insurance Program (NFIP). The program is currently facing considerable strain following a highly active hurricane season. NFIP was forced to pay billions of dollars to policyholders this year after several hurricanes made landfall in the United States. The House passed the flood insurance bill in a vote of 237 to 189. This achievement followed months of debates and deal-making. The main issue had to do with the degree to which NFIP would be scaled back.