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Congress Approves Loan for Superstorm Sandy Flooding

January 7, 2013

On Jan. 4, 2013, Congress approved nearly a $10 Billion increase in the National Flood Insurance Program's (NFIP) borrowing authority for Superstorm Sandy (HR 41). This is a temporary measure necessary to ensure the continued payment of claims for NFIP legislative reform package passed last year to keep the program on a fiscally sensible path over the next five years.