On Friday February 10, the U.S. Senate passed by voice vote a bill (S. 2275) to temporarily boost the borrowing authority for the National Flood Insurance Program (NFIP) to $21.2 billion, from the current level of $18.5 billion. The $2.7 billion increase is less than half of the $5.6 billion increase NFIP have told Congress is needed to pay anticipated claims through the end of 2006. Action in the House is still pending.
February 14, 2006