Big ‘I’ Keeps Focus on Flood Insurance
The Big “I” and others are currently advocating for Congress to extend the NFIP before the program expires, and to support a long-term reauthorization of a modernized version of the program.
The Big “I” and others are currently advocating for Congress to extend the NFIP before the program expires, and to support a long-term reauthorization of a modernized version of the program.
Late last week, the U.S. House of Representatives voted down H.R. 2, “The Agriculture and Nutrition Act,” by a vote of 198-213.
Controversy related to the supplemental nutrition assistance program and other issues, including crop insurance and subsidies for commodities such as sugar, are making it hard to predict how the final vote will turn out.
Last week, the Federal Housing Administration proposed amending the agency’s rules to allow the use of private flood insurance on FHA-backed loans in Special Flood Hazard Areas.
The Big “I” expects that as the 2018 Farm Bill moves through the legislative process, Congress will consider amendments that could be harmful to the FCIP.
Surrounded by controversy related to the Supplemental Nutrition Assistance Program, the bill moved through committee on partisan lines.
The bill is wrapped in partisan controversy related to the Supplemental Nutrition Assistance Program. However, the bill provisions that relate to the Federal Crop Insurance Program have not been a point of contention.
Congress is expected to pass a bill to fund the government through the end of the fiscal year, which also includes authorization for continued operation of the NFIP through July 31.
The changes, which apply to the FY2019 WYO Arrangement effective Oct. 1, include, among other things, eliminating the WYO non-compete and revising the methodology for calculating WYO compensation, which is used to pay agent commissions.
On Monday, the Office of Management and Budget released a proposed budget for FY2019 that includes cuts to the Federal Crop Insurance Program, as well as changes to the NFIP.