Filed Under:Markets, E&S/Specialty

NFIP Borrowing Authority Increase Cleared for Senate Vote, but Faces Obstacles in House

Updated 6:55 p.m. with new headline and content reflecting Senate action

The fate of what is seen as a needed increase in the borrowing authority of the National Flood Insurance Program before year-end is in doubt as Congress breaks until Wednesday.

For one thing, as of this morning, opposition in the House to tax increases of any kind throws into doubt whether Congress will be able to pass any legislation dealing with the so-called fiscal cliff before year-end. There has been speculation among industry lobbyists that legislation increasing the borrowing authority would be tucked into a bill addressing the fiscal cliff.

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