National Flood Insurance Program Extended for Through Dec. 20
President Trump signed a temporary budget bill on Nov. 21 to avoid a government shutdown just one day ahead of a Nov. 22 deadline. Congress had completed work on the continuing resolution (CR) earlier in the day. The CR keeps the government in operation through Dec. 20.
This means the National Flood Insurance Program (NFIP) is extended for another month. While welcome news, a long term reauthorization of the NFIP is still needed to ensure that federally backed flood insurance can be predictable and financially stable, which lends to affordability. A five-year reauthorization was introduced in the House of Representatives over the summer and, in concept, seemed to have some agreement of both sides of the isle. The National Association of Home Builders will continue to advocate for a long term reauthorization.