NU Online News Service, Dec. 16, 1:01 p.m.EST

Congress appears ready to pass a short-term National FloodInsurance Program reauthorization by midnight tonight, according toinsurance-industry lobbyists, who add that a long-term extension isstill "in play."

The short-term extension, which would keep the program goingthrough May 31, 2012, would be included in a "minibus" packagetonight that would avoid a government shutdown by the weekend.

The House has passed its bill, the "Consolidated AppropriationsAct." The Senate has until midnight to act in order to keep boththe government and the NFIP running.

Charles Symington, senior vice president, government affairs,for the Independent Insurance Agents and Brokers of America, says,"We are grateful to the House and Senate for including a five and ahalf-month extension of the NFIP in the minibus appropriationslegislation that is expected to pass later today in bothchambers."

Industry lobbyists say that Sen. Harry Reid, D-Nev., and Sen.Mitch McConnell, R-Ky., are also considering including legislationreauthorizing the NFIP until Sept. 30, 2016 as a pay-for in anotherbill that would extend tax breaks for the middle class andlong-term unemployment insurance.

The House included a 5-year NFIP extension in a bill extending the taxbreaks earlier this week.

However, the Senate version of the tax-extension bill may notmatch the House version since Reid and the Obama administrationhave taken issue with the House bill, called the "Middle Class TaxRelief & Job Creation Act of 2011."

Matt Gannon, assistant vice president of federal affairs for theNational Association of Mutual Insurance Companies, puts the oddsof Congress passing a long-term extension of the program thisweekend at 50-50.

At the same time, it is unclear whether the House or Senateversion of the long-term NFIP reauthorization will be the vehiclefor final action.

The House initially passed its version of a long-term extension inJuly.

The Senate advanced its version through the Senate BankingCommittee in September, but the full chamber has not taken it upyet. 

A third option for the NFIP is legislation extending the taxbreaks for the middle class and long-term unemployment insuranceuntil Feb. 28 that will include a similar short-term extension ofthe flood program.

The issue should be decided at the latest by Sunday becauseCongress wants to go home this weekend for the Christmas-New Year'sholiday, the lobbyists explained.

The NFIP is set to lapse today if no action is taken.