This Republican-controlled Congress overwhelmingly passed "H.R. 1309: Flood Insurance Reform Act of 2011" on July 12, 2011.
It's purpose: "To extend the authorization of the national flood insurance program, to achieve reforms to improve the financial integrity and stability of the program, and to increase the role of private markets in the management of flood insurance risk, and for other purposes."
Why does the government subsidize millionaires buying insurance for their large homes on beachfront property? Most of this money goes to two states; Florida and Texas.
When I was a kid, most beachfront dwellings were cottages. Now, thanks to taxpayer financed insurance, wealthy people build mansions.