Republicans Wade In With Flood InsuranceProposal
WASHINGTON - (10/28/05) -- Mississippi Gov. Haley Barbour wason Capitol Hill Thursday floating a proposal to compensateuninsured victims of the flooding after Hurricane Katrina, aliability expected to run into tens of billions of dollars inMississippi, Louisiana and Alabama. Barbour was proposing that thefederal government use some of the $50 billion of fundsappropriated immediately after the massive storm and allowgovernors in the three states to cover flood losses for propertyowners in the affected areas, sources familiar with the plan toldThe Credit Union Journal. Barbour told lawmakers his state alonewill need as much as $4 billion to cover losses not covered byflood insurance. Losses in Louisiana are expected to be at least 10times as much. Meantime, Mississippi Congressman Gene Taylor wasscheduled to meet Thursday with Louisiana Rep. Richard Baker to tryand convince senior Republicans to join Taylor's bill to allowuninsured homeowners to but flood insurance retroactively throughthe Federal Emergency Management Agency's National Flood InsuranceProgram. The Democrat's plan has attracted little support so farfrom Republican leaders. Barbour, the former head of the RepublicanNational Committee, was said to be meeting with Republican leadersto lobby for his plan.