Kennedy has been actively advocating for a longer-term reauthorization of the NFIP. Towards the end of last year, he introduced a bill aiming to extend the program until 2025. However, the bill did not receive unanimous approval in December, halting its progress to the Senate floor. The current reauthorization bill proposes to keep the program running in its current state until Sep. 30, 2025.
Reports from Politico suggest that Kennedy and fellow Louisiana Senate Republican, Bill Cassidy, are collaborating on separate NFIP reauthorization bills that are expected to align in the future. Kennedy mentioned to Politico that they will likely work together on this endeavor.
Cassidy’s bill has yet to be presented in the Senate. Kennedy is focused on not only securing a longer-term authorization but also implementing reforms to the program. In January, before President Donald Trump’s inauguration, Kennedy revealed that he, along with Sen. Mike Rounds, was tasked by Senate Banking Committee Chair Sen. Tim Scott to propose changes to NFIP that would cover various natural disasters.
Although details are scarce due to the early stages of their work, the objective is to enhance NFIP by potentially expanding its coverage without relying on taxpayer subsidies. This proposed program aims to assist victims of fire, wind, and hail catastrophes without federal government subsidies.
There are significant challenges hindering NFIP reform, exacerbated by the slim majorities in Congress. The current stance of congressional Democrats further complicates the funding debate, with some considering a government shutdown as a means to counter Republican agendas.
Following the unveiling of the Republican funding proposal by House Speaker Mike Johnson, Democrats are being challenged to either support or oppose it. Johnson plans to push for a vote on the new plan as early as March 11.