Government Affairs

As of press time, the U.S. Senate was expected to pass legislation that would fund the government through March 11, 2022, and extend the National Flood Insurance Program (NFIP) for the same period.

At the hearing, there was overwhelming bipartisan support for the Federal Crop Insurance Program (FCIP) and the critical role it plays in farm communities and food security.

The U.S. Senate is expected to take up the legislation in the coming days, which is needed to avoid a government shutdown and a lapse in the NFIP.

The Big “I” is a strong supporter of a robust and reliable FCIP, which is designed to provide certainty for American farmers and communities.

InsurPac, the Big “I” political action committee, remains one of the largest small business PACs in the country and is credited with making the Big “I” one of the most well-respected lobbying associations on Capitol Hill.

The National Flood Insurance Program (NFIP) is scheduled to expire on the same date as government funding, which will expire tomorrow if legislation is not passed.

Advocacy efforts by the Big “I” proved successful on many fronts and several damaging provisions have been dropped from the legislation.

The Big “I” successfully advocated to remove several damaging provisions, including a cap on the 20% small business deduction and tax rate increases that would have impacted Big “I” members organized as pass-through businesses.

The legislation to extend the National Flood Insurance Program (NFIP) includes several controversial items, such as capping Write-Your-Own (WYO) compensation at 22.46% of written premiums.

The three bills introduced today aim at reforming the National Flood Insurance Program (NFIP) with the intention of growing the private market.