Committee Releases Hearing Schedule for Week of January 11
Two Hearings to Focus on Much-Needed Reforms to the National Flood Insurance Program
January 8, 2016 -
WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s hearing schedule for the week of January 11th.
Tuesday, January 12 at 10:00 A.M. - The Housing and Insurance Subcommittee will hold a hearing to discuss opportunities and challenges facing the National Flood Insurance Program.
Wednesday, January 13 at 9:15 A.M. – The Housing and Insurance Subcommittee will hold a hearing on how to create a more robust and private flood insurance marketplace.
The National Flood Insurance Program (NFIP) is currently $23 billion in debt to taxpayers with no way to ever repay them. The program’s Chief Administrator has previously testified that the “NFIP was, by statue and design, not actuarially sound” and charges only 70 percent of what administrators believe the NFIP actually needs. Without reform, the NFIP will only go deeper into debt to hardworking taxpayers.
Both hearings will take place in room 2128 of the Rayburn House Office building. Additional information about hearings and witnesses will be made available on the Committee’s website.