After a brief extension measure, Congress gave the green light to the National Flood Insurance Program through September this week, granting four more months to the program, which has been extended twelve times since 2017.
Congress also approved $19 billion in disaster funds, with which the extension was packaged. The aid will benefit Puerto Rico, specifically, as well as other areas impacted by severe storms and wildfires. The bill is currently in front of President Trump (at press time), and is expected to pass.
In 2018, the collective damage from disasters was estimated at $37.5 billion-$53 billion, according to CoreLogic data.
Stay tuned for updates.
