United States:
National Flood Insurance Program Is Relieved Of $16 Billion Of Debt
17 November 2017
Carlton Fields
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On October 26, 2017, President Donald Trump signed H.R. 2266, a
disaster relief bill. Pursuant to section 308 of the bill, the
Department of the Treasury will forgive $16 billion in debt owed by
FEMA under the National Flood Insurance Program. The forgiven debt
is designated as an emergency requirement under the Statutory
Pay-As-You-Go Act of 2010 and the Balanced Budget and Emergency
Deficit Control Act of 1985. See the full text H.R. 2266 here.
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