Sending Office: Committee on Financial Services – Minority Staff
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Dear Colleague,

I invite you to join us in sending a letter to appropriators, urging debt forgiveness of the National Flood Insurance Program’s (NFIP) $25 billion debt.

Since its inception in 1968, the NFIP has been the primary source of flood insurance coverage for homeowners and business owners around the country. As the NFIP was designed to be a self-sustaining program, it has historically been funded by insurance premiums
and policyholder fees. Since the NFIP is not designed to fund large catastrophic events, the NFIP has accumulated nearly $25 billion in debt following events like 2005’s Hurricane Katrina, Superstorm Sandy in 2012 and Hurricane Matthew in 2016.

Moreover, both the Federal Emergency Management Agency (FEMA) and the Government Accountability Office (GAO) have stated that the NFIP is unlikely to ever be able to repay its debt. Yet, in response, the NFIP has introduced many increases in policyholder
fees in an attempt to subside its debt, ultimately resulting in unaffordable premiums. These increases have also cost FEMA $4 billion in interest alone, since Hurricane Katrina.

It is time that Congress takes responsibility for its faulty design, and include NFIP debt forgiveness language in Homeland Security Appropriations.

Deadline to sign on is COB Thursday, March 15th. Please contact Jennifer Afflu ( with Ranking Member Waters to sign onto this letter.


Thank you,

Ranking Member Maxine Waters and Representative Charlie Crist