25-10-2017 01:11 via insuranceinsider.com

NFIP's $16bn bailout passes minus reforms Trump sought

A request to cancel $16bn in National Flood Insurance Program
(NFIP) debt won approval in the Senate today as part of a $36.5bn
debt relief package sought by President Donald Trump.
The vote came over objections from conservative Republicans who
took issue with forgiving the debt of a programme that is fiscally
unsound without including any reforms or budget offsets.
White House budget director Mick Mulvaney had asked for NFIP
reforms along with the debt relief, but lawmakers in the...
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