Trump admin warns millions could lose flood insurance if Democrats block bill
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SPECIAL: As the deadline for the 30 September government is determined, the Trump administration warns that millions of Americans may lose the scope of flood insurance if the Democrats’ National Flood Insurance program (NFIP) expands a gauze spending bill.
The White House supports the ongoing decision (CR) approved by the Parliamentary Republicans and approved by the Parliament Republicans, which will re -authorize NFIP.
Management officials said that they are working to ensure that NFIP is part of the current financing package and reflected the urgency of protecting millions of policies in the hurricane season.
The Democrats said that they would not support the measure by referring to wider spending disagreements. Trump management officials argue that Standoff’s hosts, housing markets and disaster rescue funds, just as the highest storm season came.
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Senator Chuck Schumer, DN.Y., Congress is facing a financing date and flood insurance risks, while talking at a press conference on Capitol Hill. (Through Daniel Heuer/Bloomberg Getty Images)
“A White House official said in a special statement to Fox News Digital: ‘NFIP is a vital program used by millions of Americans, and it is not a difficult call to expand-so the administration supports the CR that will do it. ‘
According to the management figures reviewed by FOX News Digital, a jump in NFIP authorization may disrupt approximately 1,300 real estate sales every day. This is roughly 40,000 closing in a month, in areas where flood insurance is required to secure a mortgage.
More than 400,000 policies will end in October. Authorities say that approximately 152,000 of them are prepaid, but may lose the scope of more than 250,000 households if the program stops.
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White House officials warn the flood insurance tours if the democrats prevent an expenditure bill. (Getty Images)
Administrative officials also pointed out in October 2024 as a warning sign. That month he saw more than 427,000 new or renewed policies. Approximately 41,000 hosts purchased new policies, leaving approximately 33,000 decreases and approximately 9,000 net earnings. Authorities warn that if NFIP passes, similar growth may collapse this year.
Administrative officials said that FOX News Digital is currently 2.6 billion dollars to pay valid demands, including 1.5 billion dollars and $ 1.1 billion reserve at the National Flood Insurance Fund. However, if a great disaster exceeds these reserves, he warned that the agency, a scenario they define as “dangerous and prevented”, cannot borrow additional money from the Treasury.
The National Home builders Association (NAHB) reiterated these concerns.
“NFIP’s past interruptions, property sales, home values and consumer confidence have caused immediately and widespread negative effects on Consumer confidence,” FOX News said in a special statement to Digital. He said.
House is talking at a press conference about Capitol Hill in Washington, Housem minority leader Hakeem Jeffries. (Nathan Posner/Anadolu/Getty Images)
He continued: “In order to obtain a mortgage, home sales will end in the areas where flood insurance is compulsory. What the housing market is now needs stability and certainty. NAHB calls for the house to move quickly to continue to finance the operations of the federal government, including the extension of the NFIP.”
NFIP has a long Stopgap extension history. Since 2017, the Congress has generally re -authorized the program 30 times with short -term measures. MPs often made the scope retrospective to prevent permanent gaps, but even short tours stopped their real estate closing and left their landlords in the limo. The program currently serves approximately 4.5 million policy holders throughout the country.
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Unless the MPs make an agreement, FEMA will be banned from selling or renewing flood insurance policies as of October 1, which can leave millions of hosts by wounding Washington from 1 October to the closure of 1 October. Management officials argue that the risk is particularly acute this year as the hurricane season continues.
Fema did not respond immediately to Schumer and Jeffries Fox News Digital’s request for comment.
