Cassidy Delivers Speech Warning of Consequences if Flood Insurance Program Lapses

WASHINGTON - U.S. Senator Bill Cassidy, M.D. (R-LA) delivered a speech on the U.S. Senate floor urging Congress to prevent a lapse in the National Flood Insurance Program (NFIP) on September 30^th. Cassidy emphasized the importance of ensuring long-term stability for Louisiana families and millions of policyholders nationwide who rely on the program.

"It is irresponsible for Congress to continue to make families hold their breath and hope the rug will not be pulled out from beneath them. It is a pattern that should end," said Dr. Cassidy.

"Let's keep the National Flood Insurance Program alive-and then let's keep it strong, reliable, and worthy of the trust that millions of American families place in it every day," continued Dr. Cassidy.

Background

This summer, Cassidy delivered a speech commemorating the anniversary of Hurricane Katrina and emphasizing the significant progress made since the storm to rebuild and strengthen our infrastructure. Cassidy also delivered a speech highlighting the urgent need for Congress to prevent the NFIP from expiring on September 30^th and ensuring it remains affordable for the homeowner, accountable to the taxpayer, and sustainable for future generations.

In June, delivered a speech highlighting the need to end the Biden-era Risk Rating 2.0 policy and for the NFIP to remain affordable.

In May, Cassidy delivered a speech calling for affordable flood insurance to remain affordable and highlighting the danger that Risk Rating 2.0 poses to low- and middle-income families' ability to be enrolled in the program.

In April, Cassidy delivered a speech on the Senate floor calling for the continuation of FEMA's Building Resilient Infrastructure and Communities (BRIC) grant program, which helps fund pre-disaster mitigation and flood prevention projects in Louisiana and nationwide.

In March, Cassidy delivered a floor speech calling for a long-term extension of the National Flood Insurance Program (NFIP) and introduced legislation to extend the program through December 31, 2026. Cassidy also met with the Jefferson Business Council where he discussed his efforts to keep flood insurance affordable and extend NFIP long-term.

In February, Cassidy introduced the Flood Insurance Affordability Tax Credit Act to give low- and middle-income households enrolled in the National Flood Insurance Program (NFIP) a 33% refundable tax credit to combat rising flood insurance premiums. Cassidy released a report last fall outlining the current state of the NFIP and the issues that have led to skyrocketing premiums for millions of homeowners.

Last year, the U.S. Senate Banking Committee held a hearing on NFIP at the request of Cassidy. The hearing highlighted the urgent need for Congress to act and featured a Louisiana witness. Cassidy also participated in a roundtable hosted by GNO, Inc. and the Coalition for Sustainable Flood Insurance to hear from community leaders and advocates on the issue.

Cassidy traveled St. Bernard Parish in 2023 to talk with residents about their flood insurance premiums, recording the second episode of his Bill on the Hill series.

Cassidy's remarks as prepared for delivery are below:

Mr. President,

Twenty years ago this month, Hurricane Rita hit Louisiana.

One year ago tomorrow, Hurricane Francine hit Louisiana.

Like we have done so many times before, people in my state began stockpiling gasoline for generators.

Gathering water, food, and medication.

Boarding up their windows.

Securing pets and livestock.

A friend of mine actually sent me a video showing how she was preparing her pigs' pen for the storm.

When Hurricane Francine made landfall on the 11th, people in Ascension, Assumption, Lafourche, St. Charles, St. James, St. John the Baptist, St. Mary, and Terrebonne parishes-and others-experienced significant flooding.

Thankfully, no lives were lost.

But plenty was destroyed.

Homes were flooded-some ruined entirely.

Many lost power.

In total, Hurricane Francine caused more than $1.5 billion in damage across our state.

Because of that, I have spent the last year making sure Louisiana receives every federal resource possible, first for recovery, and second for mitigation.

One example of recovery aid I was pleased to announce was a $118 MILLION dollar grant from the U.S. Department of Housing and Urban Development, specifically for Hurricane Francine relief.

But you know what's even better than recovery?

Not flooding in the first place.

A stitch in time saves nine.

Or, according to one report by the National Institute of Building Sciences, one dollar invested in preventing flooding can save up to six dollars in flood damage.

In President Trump's first administration, he created a program called BRIC-short for Building Resilient Infrastructure and Communities.

The program provided many cost- and life-saving grants that Louisiana benefited from.

The administration has assured me they're going to release those funds.

Through the Infrastructure Investment and Jobs Act, I've secured over 10 BILLION dollars for my state-a lot of which has been for flood mitigation.

Just weeks after Hurricane Francine, I announced a separate grant of $206 million dollars for elevating flood-prone homes in Orleans, Calcasieu, East Baton Rouge, and Lafayette Parishes, plus a lot in between.

I also announced 1.5 MILLION dollars for the Louisiana Department of Public Safety for emergency protective measures taken during Hurricane Francine.

Then another 1.5 MILLION in May.

Mr. President, in the past, I've discussed some of the worst floods in our state's history-Milton, Helene, Laura, Ida, Katrina.

I've even spoken about flooding in Texas, New Mexico, and New York.

Every flood is a little bit different, but the outcome-the message I always emphasize-is the same: Americans need stability.

And right now, that stability is being threatened.

The National Flood Insurance Program-NFIP-has provided Americans with access to affordable flood insurance for the last fifty years.

We are once again barreling toward a government shutdown if Congress doesn't act.

If the government is not funded, the National Flood Insurance Program will lapse, leaving the nearly 500,000 Louisianans enrolled in the program-and millions more Americans-without coverage.

Hurricane season won't be over for another two months!

Where does that leave the elderly folks in Calcasieu Parish?

The young couple just starting out in St. Charles Parish?

The single mother in St. Bernard Parish, providing for her child, living paycheck to paycheck?

We cannot let a funding fight keep them from receiving the coverage they need.

And by the way, even if Congress averts a shutdown, we're not in the clear yet.

We still need a long-term solution.

Congress has already passed thirty-three short-term extensions in the last ten years.

Thirty-three!

Don't you think, Mr. President, that a program which has been extended thirty-three times is worth reauthorizing long-term?

And don't you think that Congress should protect a program that helps millions of Americans-from New Mexico to New York-afford flood recovery?

I haven't spoken to every single homeowner in America enrolled in NFIP-there are about five million-but I can imagine they are all wondering why their government can't get its act together.

It is irresponsible for Congress to continue to make families hold their breath and hope that the rug won't be pulled out from under them.

It is a pattern that must end.

To do so, we first need to make sure the government is funded so that NFIP survives September.

We then need to pass a long-term extension so that NFIP policyholders can rely on the program to do what it's supposed to: provide stability.

Let's keep the National Flood Insurance Program alive-and then let's keep it strong, reliable, and worthy of the trust that millions of American families place in it every day.

Mr. President, in this, we talked about recovery from hurricanes.

We talked about how to prevent flooding, which is to say, you don't have to recover, because you've already built resiliency.

And we talked about the work that must be done for those on the National Flood Insurance Program.

And right now, with that promise of protection hanging in the balance, I am calling once again for stability-for certainty.

A program that millions rely on-nearly 500,000 in Louisiana alone-should not be held hostage by short-term funding battles.

We've seen what happens when the waters rise. We've seen the damage, and we've seen the need.

Let's act now-so that when the next storm comes, families don't have to wonder whether their coverage will be there.

With that, I yield.

###