Senate Minority Leader Chuck Schumer on Tuesday called on Congress to refund the National Flood Insurance Program, citing the heavy damage caused by Hurricane Harvey.
The New York Democrat took to Twitter to argue for the program, which expires Sept. 30:
At a news conference in New York, Schumer said chairman of the House Banking Committee, Republican Sen. Jeb Hensarling of Texas, has opposed the insurance program in the past.
"To those of us in New York, what we've seen of Harvey is a flashback to Sandy," Schumer said on Long Island, Newsday reported, referring to the 2012 superstorm that devastated the New York-New Jersey region. "We know the devastating power of God, nature and water.
"Now that the damage is done, the long road to recovery for Texas will begin."
Harvey made landfall in Texas late Friday as a Category 4 hurricane and has lingered off the coast, dropping nearly 50 inches as a tropical storm.
The NFIP, created in 1968, is managed by the Federal Emergency Management Agency. It provides assistance for homeowners hit hard by flooding from natural disasters.
But the program is $25 billion in debt because of claims from both Sandy and Hurricane Katrina in 2005, as well as other natural disasters, Newsday reported.
Flood damage alone could cost at least $35 billion, about what Katrina cost, said Robert Hunter, director of insurance at the Consumer Federation of America.
But in that 2005 hurricane about half of flooded homes were covered by flood insurance.
With Harvey, only two of 10 homeowners have coverage, Hunter estimated Tuesday.
"All these people taken out in boats, they have a second problem: They have no insurance," he said.
NFIP Director Roy Wright told the Senate Banking Committee in March that failing to renew the program could disrupt the housing market since homeowners might not be able to obtain flood insurance for homes in designated flood zones, Newsday reported.
Members of the House and Senate have introduced bipartisan reauthorization bills this year that seek to extend insurance program for six years and provide critical reforms, including risk mitigation, mapping, and program improvements.
The NFIP was last reauthorized in 2012, Newsday reported, after lapsing in 2010 as lawmakers debated the program's flaws.
The Associated Press contributed to this report.