Statement of Senator Barack Obama on the Flood Insurance Reform and Modernization Act of 2007
Tuesday, May 13, 2008
Printable FormatFOR IMMEDIATE RELEASE
CONTACT: Michael Ortiz, 202 228 5566
WASHINGTON, D.C. - U.S. Senator Barack Obama today released the following statement on the Senate's passage of the Flood Insurance Reform and Modernization Act of 2007 (H.R. 3121). Senator Obama voted in favor of the measure, which passed by a vote of 92 to 6.
"Every year, tens of thousands of homeowners and businesses throughout the country suffer from catastrophic flooding, and we must do everything we can to ensure they can recover as quickly as possible. I am proud the Senate passed this legislation today, which makes important improvements to the National Flood Insurance Program.
"This legislation includes an important provision to protect families and businesses in flood plains on the Illinois side of the Mississippi River from having to purchase flood insurance now while others would not have to for years. Without this critical provision, skyrocketing costs could halt business expansion in the Metro East region and cause severe financial hardship for local residents. I commend Senator Durbin and Congressman Costello for their leadership in standing up for these Illinoisans by supporting this amendment.
"As a member of the Homeland Security and Governmental Affairs Committee, I am committed to working to ensure our communities in Illinois and throughout the country are best prepared to respond and rebuild after terrible disasters strike.