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House Flood Reform Bill Seen Less Costly

"CBO expects that enacting this legislation would improve the financial status of the NFIP and significantly increase the likelihood that the program could continue to offer insurance coverage and

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A controversial House-approved bill to reform the National Flood Insurance Program by adding windstorm coverage is cheaper than a Senate measure according to a Congressional Budget Office report.

Compared with the House bill, a Senate bill, which CBO called a more practical approach to revise the flood program would have a greater cost over the next five years, the CBO said.

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