This bill would delay a major reform to the National Flood Insurance Program (NFIP) that would have returned some semblance of market rates to flood insurance premiums. Currently, NFIP is over $25 billion in debt because homeowners in frequently flooded areas do not have to pay an amount that is equal to the risk they incur, meaning that the government takes a loss when the inevitable floods occur. By delaying the scheduled reforms, the NFIP will require a taxpayer bailout for billions of dollars.