The Trump administration on Tuesday approved a $500 billion flood-control program for the Midwest and the Southeast that would see millions of dollars invested in projects designed to protect against flooding and reduce erosion of levees.
The program, dubbed the Federal Flood Insurance Program (FIP), would allow states to provide insurance to property owners to help with flood insurance premiums.
It is the second major flood-protection program for flood-prone regions under President Donald Trump, who took office in January.
Trump has called for the federal government to expand flood insurance and has pledged to help those in need.
But Congress has yet to provide a bill.
In a statement, the White House said the program would help communities and “improve the safety and security of Americans and their property.”
The administration also proposed funding for a $300 million expansion of the National Flood Insurance System, which covers about 5.3 million people, to help state and local governments meet flood insurance requirements.
A bill that passed the House last year would have extended the National Disaster Relief and Emergency Assistance Act through 2020.
“The NFIAA program has proven to be an effective tool to address flood-related losses, and the President has been clear that FEMA should continue to play a role in managing flood risks and providing assistance to localities,” the Whitehouse said.
The NFIAAs flood insurance programs were created in response to Superstorm Sandy, which caused billions of dollars in losses to businesses and the economy, and its aftermath.
The federal government’s flood insurance program is paid for through taxes on property owners, which can increase or decrease with the economic recovery.
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