CBO's implication being that FEMA is knowingly setting future losses in coastal areas too low. And indeed, the reason FEMA is doing that is because Congress ex

CBO's implication being that FEMA is knowingly setting future losses in coastal areas too low. And indeed, the reason FEMA is doing that is because Congress explicitly tells it to. See this example of political football: Biggert–Waters Flood Insurance Reform Act of 2012 passed to properly set rates. https://en.m.wikipedia.org/wiki/Homeowner_Flood_Insurance_Affordability_Act_of_2013#Biggert%E2%80%93Waters_Flood_Insurance_Reform_Act_of_2012 https://en.m.wikipedia.org/wiki/Homeowner_Flood_Insurance_Af... Leading to the Homeowner_Flood Insurance Affordability Act of 2013, essentially prohibiting rates from raising. Amazingly, the CBO scored this as neutral due to some offsetting surcharges elsewhere. https://en.m.wikipedia.org/wiki/Homeowner_Flood_Insurance_Affordability_Act_of_2013#Provisions_of_the_bill https://en.m.wikipedia.org/wiki/Homeowner_Flood_Insurance_Af... Suffice to say, Florida votes are absolutely being bought with artificially low rates through the NFIP.