On Tuesday, the Senate passed a four month extension of the National Flood Insurance Program (“NFIP”). President Trump has already signed the extension, which extends authorization for the NFIP and allows it to continue borrowing funds through the end of the 2018 hurricane season. The extension, which passed the Senate by a margin of 86 to 12, does not include any substantive reforms to the NFIP, which covers more than 5 million households and collects more than $3 billion in annual premiums. Despite attempts from some members, Congress has repeatedly failed to advance substantive reforms to the NFIP, which is more than $20 billion in debt to the Treasury and loses roughly $1.5 billion a year.