The statement was updated to reflect additional organizations that have signed in support of creation of a state revolving loan fund program for flood mitigation. See the most recent version of the letter here.
The Pew Charitable Trusts has joined with the mortgage industry, insurance representatives, engineers, flood plain managers, municipal groups, and county associations in support of S. 1507, the State Flood Mitigation Revolving Fund Act.
The bipartisan legislation, introduced by Senators Jack Reed (D-RI), John Kennedy (R-LA), and Robert Menendez (D-NJ), would create a partnership with states to provide low-interest loans for projects that reduce flood risk and save lives and dollars. Such activities could include raising and floodproofing public buildings, businesses, and residences; improving stormwater management; assisting residents who wish to move out of harm’s way; and converting frequently flooded areas into parks and other recreation areas.
The bill is supported by over 100 national organizations and state and local groups from South Carolina to California.