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Thanks to Senators Reed and Whitehouse, the flood insurance program has been extended but I don't believe Joe Luca will ever get his wish of the NFIP becoming self-sufficient. Flood insurance premiums will continue to increase and congress needs to subsidize it permanently until and unless FNMA, FHLMC, FHA, and VA start requiring less costly coverage for their mortgages. Fortunately, there are several choices today that didn't exist just a few years ago. I strongly recommend that anyone needing it google "cheap flood insurance". It won't hurt to learn if there are less expensive carriers. The issue is similar to Workers Compensation Insurance. When there was only The Beacon in Rhode Island the premiums were sky high. (I know. I paid them.) Those premiums dropped dramatically when competition re-entered the R.I. market.

Happy August everyone.

Rick Corrente

The Taxpayers Mayor