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Floor Speech
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Mr. CASSIDY. Mr. President, in every single State, there are Americans relying on the National Flood Insurance Program to protect their home. It is shaded in every State. There are people who are making claims on the National Flood Insurance Program. Congress has the responsibility to serve all Americans, regardless of age, income, or ZIP Code.
Since President Biden's implementation of Risk Rating 2.0, seniors and low- and middle-income homeowners have been left behind. Earlier this month, I led eight of my Republican colleagues in urging FEMA to end the Biden-era Risk Rating 2.0. I want to work with the President to fix the mess the Biden administration has created.
Now, I want to share with my colleagues the same case we made in that letter for why action is needed now.
Every year, on June 1, the phrase ``hoping for the best, preparing for the worst'' comes to mind. For the folks in Louisiana, it is a way of life.
The hurricane season begins. With a higher gulf temperature than usual, meteorologists predict 13 to 19 named storms, 6 to 10 hurricanes, and 3 to 5 major hurricanes hitting the United States before the year's end. That is somewhere in the United States, not just the gulf coast.
I will note that the meteorologists always predict a lot. It is easier to be wrong predicting a lot than to be wrong predicting very few. But, nonetheless, we should hope for the best and prepare for the worst.
In my State, if there is such a warning, folks know what to do. They stock up on some nonperishable food items, they get their prescriptions renewed, they take care of their windows, they check on their neighbors, and they will also be bracing themselves financially.
Folks in my State are still trying to get back on their feet after 4 years of financial distress under the Biden administration. Add the cost of recovery, if there is a severe weather event, and many families just cannot afford it.
That is why we have the National Flood Insurance Program, a safety net program for millions across the country, including those in my State, for the last 50 years. Because of the National Flood Insurance Program, a retired couple in Livingston Parish who just paid off their mortgage sleeps better knowing that they are covered the next time or if they ever flood.
The single working woman in Cameron Parish rests assured, knowing that there is help available when it comes time to replace the siding and roof tiles which may have been torn loose by torrential winds.
But this program--and the peace of mind for those who rely on it--is threatened. Since FEMA, under the Biden administration, implemented Risk Rating 2.0, premiums have skyrocketed, making desperately needed protection unaffordable for millions. Over 80 percent of NFIP policyholders in Louisiana saw a spike in their premiums after its implementation in 2021. The protection that millions desperately need has been unaffordable.
When I say ``unaffordable,'' I am not talking about a $1 or $200 increase, although that might be too much for some families. I am talking about an almost $2,000 increase for a homeowner in Waggaman, LA, and about a $4,500 increase for a homeowner in Gibson.
This is where they started, in the white, and this is where they went to, in the red.
So if you say ``unaffordable,'' for a family of limited means, paying almost $600 to go to $2,500 is a big jump--a 334-percent jump. To go from $600 to $5,100 is a 750-percent jump. And here in Belle Chasse, LA, it goes from $5,070 to $8,800--over a 1,400-percent increase.
That is unaffordable. For a family with limited income--perhaps a fixed income--to see that kind of a jump is, one more time, unaffordable.
The question is, Has FEMA been transparent about these increases?
The answer is no.
In fact, some of these folks have never flooded. They are not really quite sure why their premiums are rising. But because they are rising so rapidly and so much, they have no option but to drop their NFIP coverage altogether, which, of course, is the worst possible situation because, now, they are totally vulnerable.
It is important to note that Congress has not been allowed to weigh in on these increases. Under President Biden, Congress was stonewalled. Now, with President Trump in charge, I trust there will be more transparency into the Risk Rating 2.0 methodology than we have had.
The American people--and, certainly, those in Louisiana--made it clear when they elected President Trump that they are ready to end the confusion and high prices of the previous administration. They are talking about the grocery store, the gas pump, and, yes, also flood insurance.
The National Flood Insurance Program, if you add to that homeowner's insurance, is the heart of the cost-of-living crisis Americans struggled with under President Biden.
Now, we have a chance to bring down prices on flood insurance in the same way that President Trump has brought down all of these other prices--gas, eggs, milk--you name it. And I wish to work with my Senate colleagues, my congressional colleagues, and with President Trump to make life affordable again.
As hurricane season ramps up, the clock is ticking. Let's act now.
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