“I had two goals I wanted to achieve as the Senate debated reforms to the flood insurance bill.
First, I wanted to ease the burden of sudden rate increases imposed on many Pennsylvania families.
Second, I wanted to do so in a way that protects the financial integrity of the program so it can honor future claims.
“The Menendez bill the Senate passed earlier this year utterly failed to achieve the latter goal.
Today’s bill, while far from perfect, achieves both of my objectives, including protecting the flood insurance program’s sustainability using a mechanism similar to the one I proposed in January.”
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