Should Taxpayers Have to Subsidize the Repeated Rebuilding of Homes in Flood Zones?

The Senate this week joined the House to approve much-needed emergency relief funding to help hurricane victims. But as is too often the case, Congress ducked the bigger opportunity: overhauling the failing National Flood Insurance Program. Over time, the program has become a bottomless cash pit that subsidizes homeowners with taxpayer dollars to rebuild over and over in flood-prone areas. Rep. Jeb Hensarling, R-Dallas puts it succinctly: to rebuild "the same home, in the same fashion, in the same location and expect a different result, we all know that's the classic definition of insanity."  Continue reading...