House panel forgives $16bn NFIP debt but omits reforms

The National Flood Insurance Program would have $16bn erased
from the estimated $30bn it owes the US Treasury under a bill that
passed the Appropriations Committee of the House of Representatives
late Tuesday.
But the measure leaves out reforms of the NFIP, as the programme
is known, sought by the White House, including one to phase out
availability of the government paper for newly built homes and
commercial structures.
The NFIP debt relief is part of an $36.5bn disaster aid...