On November 8 the House approved legislation requiring the federal government to lend billions of dollars to states to help pay for the damages to homes and businesses that result from natural disasters such as hurricanes and wildfires.  The bill now goes to the Senate, where it has the support of Senators Hillary Clinton (D-N.Y.) and Bill Nelson (D-Fla.). The Bush Administration says that the bill would be vetoed because it would interfere with the business of private insurers and could expose the government to large losses. 

The Senate has shown an increasing willingness to provide federal assistance to homeowners at risk of natural disasters. On the same day the House approved the insurance bill, which he supports, Senator Chris Dodd (D-Conn.) introduced two other bills that would provide assistance to homeowners in disaster-prone areas.  One of the measures would provide tax credits for the increasing cost of coverage and the other would make federal funds available to help homeowners strengthen their homes against storms and floods.

November 20, 2007