May 24, 2012
Senate expected to pass five-year flood insurance extension
24 May 2012
Posted by Andrew Kantor
The U.S. Senate is finally going to vote on changes to the National Flood Insurance Program that will extend it for five years, instead of just a month or two.
Barring yet another filibuster, it should pass and then be reconciled with a similar bill that already passed the House.
Senate Majority Leader Harry Reid said that, if necessary, they would extend the program by 60 days while both houses
squabble work together to agree on the final bill, which President Obama is expected to sign.
From the “Oh, you don’t say?” department (via the Wall Street Journal):
It is “critical that we do something on flood insurance,” Mr. Reid said. “We need to get something done on a more permanent basis.”
We’ll keep you updated, but this looks like (finally!) a good sign for anyone looking to buy or sell in a flood zone.