Category Archives: Flood Insurance

Senate Extends Flood Insurance Program Until Next Year

Last night, Senators unanimously passed the National Flood Insurance Program Reextension Act (S.3814) which would “extend the National Flood Insurance Program until September 30, 2011.”

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Senate Extends Homebuyer Tax Credit, Flood Insurance

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Senators have unanimously passed the Homebuyer Assistance and Improvement Act (H.R. 5623) to “extend the homebuyer tax credit for the purchase of a principal residence before October 1, 2010, in the case of a written binding contract entered into with respect to such principal residence before May 1, 2010, and for other purposes.”

They also unanimously passed the National Flood Insurance Program Extension Act (H.R. 5569) which would “extend the National Flood Insurance Program until September 30, 2010.”

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Reid Rejects Alternative GOP Extenders Package, Files Cloture on Dem Bill

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Majority Leader Harry Reid (D-NV) “rejected on Monday a GOP alternative to the House-passed extenders package that aides say he hopes to pass this week,” Roll Call reports.

The Nevada Democrat said the 30-day extension measure offered by Minority Leader Mitch McConnell (R-Ky.) “doesn’t solve the problems” of longer-term funding for unemployment insurance, state assistance for Medicaid and Medicare payouts to doctors.

The Republican bill was fully offset, according to McConnell.  Some of that money would have come from stimulus dollars, which Reid opposes.

The House-passed extenders package “is entering its third week on the Senate floor, where it has languished as some Democrats express concerns over its $140 billion cost.”

Reid and other top Democrats have been working behind the scenes to rally enough support to pass the measure, which would extend funding for unemployment benefits until November and Medicaid funding for an additional year.

The Medicaid provision was stripped from the House bill to win enough votes for passage before Memorial Day, but Senate Democrats are hoping to pass legislation that restores it. That would mean the bill would return to the House for another vote.

Reid filed cloture on the underlying bill earlier today.

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Filed under Economy, Flood Insurance, Medicare, Party Leadership, Taxes, Unemployment

Extenders Package, Including Unemployment, Won’t See Senate Action

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Senate Democratic leaders “conceded late Thursday that an effort to extend unemployment benefits and other expiring provisions through the end of the year will fail,” The Hill reports.

A nearly $200 billion package of unemployment benefits and tax credits floundered in the House after conservative Democrats balked at the prospect of adding $130 billion to the federal deficit.

As a result, unemployment benefits for hundreds of thousands of Americans will begin to run out on June 2.

Federal subsidies for COBRA health insurance premiums will begin to run out on May 31.

A freeze in scheduled cuts to doctors’ Medicare reimbursements will expire on May 31.

A senior Democratic Senate aide “said that Democrats would offer a 14-day extension of unemployment insurance, COBRA, the so-called ‘doc fix’ and the national flood insurance program.”

Senate Republicans, however, are expected to object to the proposal because it would add $4 billion to the federal deficit.

Republicans will make a counteroffer of a short-term extension that would be paid for by funds from the economic stimulus program.

The senior Democratic aide said Democrats would object because they believe those funds should be devoted to job creation.

Senators will leave tomorrow “for the weeklong Memorial Day recess.”

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Senate Adopts Modified Continuing Extension Act

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Senators have given final passage to the Continuing Extension Act (H.R. 4851) by a vote of 59 to 38.

Prior to that action, they adopted a cloture motion on a substitute amendment to the bill offered by Finance Committee Chairman Max Baucus (D-MT).  It passed 60 to 38.  Based on an agreement reached before the votes, the substitute amendment was subsequently adopted and added to the legislation once cloture passed.

The Baucus substitute amendment keeps all of the same provisions currently in the bill but extends them for an extra month, through the end of May.  This will, in theory, give House and Senate leaders enough time to work out differences and move forward on a larger bill to extend programs for the remainder of 2010.

This bill extends “jobless benefits, subsidies for the COBRA health insurance program and federal flood insurance through May 5,” according to the Washington Post.

Among other things, it would also “halt a 21 percent cut in payments to physicians who treat patients on Medicare,” according to Congressional Quarterly.

The “doc fix” would prevent a pay cut in Medicare reimbursements to physicians that had been scheduled to take effect April 1 but was temporarily delayed by the Centers for Medicare and Medicaid Services because of the expected legislative action. The bill would extend higher payments for physicians through April 30 — at which time the cuts would be reinstated unless the payments are extended again.

Due to the fact that Senators modified the bill it will have to be passed by the House before being sent to President Obama for his signature.

Update: The bill was passed in the House and signed by President Obama this evening.

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