By Hank Russell
U.S. Congressman Andrew Garbarino (R-Patchogue) helped sponsor a bill introduced by Josh Gottheimer (D-New Jersey) that would provide financial relief for those struggling to pay for flood insurance.
The Flood Loss Offset and Affordability Tax Credit (FLOAT) Act, which was introduced on October 18, would establish a permanent tax credit of up to $1,000 to help individuals and families afford flood insurance premiums, whether through the National Flood Insurance Program (NFIP) or private insurers.
According to Gottheimer, only 27% of Americans have flood insurance. Those who have insurance through NFIP are currently paying $1,152 a year.
The bill is currently being reviewed by the House Ways & Means Committee.
Garbarino said this will especially help Long Islanders, who felt the impact of Tropical Storm Ernesto two months ago, which caused extensive flooding on the northern Brookhaven Town and the Town of Smithtown, washed out roadways and caused extensive damage to homes, schools and businesses.
“Long Islanders know all too well the disruptions and damage severe storms and flooding can bring.” Garbarino said. “This bill aims to ease the financial burden on families as they prepare for and recover from extreme weather events.”