Senate Passes National Flood Insurance Increase, House to Hold Two Separate Votes

On December 28, 2012, the Senate approved a $60.4 billion package to provide additional aid for states hit by Hurricane Sandy. The package includes an increase in the amount that the federal flood insurance program may borrow. By approving this measure, the Senate increased the borrowing authority of the National Flood Insurance Program (NFIP) from $20.7 billion to $30.4 billion to help cover insurance claims arising from the damage caused by Sandy. It initially appeared that the House would adjourn without voting on the disaster aid bill, but House Speaker John Boehner agreed to hold two votes on storm relief. The first vote, which would provide the needed $9 billion to the NFIP, will take place on January 4, 2013. A second vote on supplemental disaster aid for states hit by Sandy will be held on Jan. 15.