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Taylor's multi-peril bill moves forward again

The House Financial Services Committee has just passed a bill from U.S. Rep. Gene Taylor, D-Miss., to add optional wind coverage to the National Flood Insurance Program. All 39 Democrats supported the bill, while only one of 26 Republicans voted for it.

The bill has passed the House before, in 2007, but it faces strong opposition in the Senate.

Sen. Roger Wicker, R-Miss., offered an amendment in 2007 that would have added wind coverage to the broader NFIP reauthorization act. That bill failed.

NFIP reauthorization has been hung up in a conference committee since 2008, which means Congress keeps approving temporary reauthorization of the program.

Along with Taylor's bill, the committee approved reauthorization of NFIP through 2015 The bill, authored by Rep. Maxine Waters, D-Calif., includes changes designed to improve the flood insurance program's performance.

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