Maxine Waters

From the office of:

Maxine Waters

Sending Office: Honorable Maxine Waters
Sent By:

Support the National Flood Insurance Program (NFIP) in FY21! 

Deadline: COB Friday, March 13th

Dear Colleague,

I invite you to join us in sending a letter to appropriators, urging the cancellation of the National Flood Insurance Program’s (NFIP) $20 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 over $20 billion in debt following catastrophic events like hurricanes Katrina, Rita, and Wilma in 2005, Superstorm Sandy in 2012, and Hurricane
Matthew in 2016. Since 2017, Category 4 and 5 hurricanes have hit the U.S. and its territories, including Harvey, Irma, Maria, Florence, and Michael. As hurricanes and major flood events become more frequent and intense, it is imperative that Congress take
responsibility for outstanding debt and put the NFIP on sound footing.

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. FEMA is expected to pay $7.4 billion in interest alone over the next 10 years.

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 Friday, March 13th. Please contact Jordan Haedtler ( with Chairwoman Waters to sign onto this letter.