The resolution urges Congress and the President of the United States to increase subsidies for federal flood insurance, particularly through the National Flood Insurance Program (NFIP). It highlights the significant impact of Hurricane Sandy on New Jersey communities, emphasizing that many homeowners rely on the NFIP due to the lack of affordable private flood insurance options. The resolution points out that recent legislative changes, specifically the Biggert-Waters Flood Insurance Reform Act of 2012, will phase out existing subsidies, leading to potentially exorbitant increases in flood insurance premiums for homeowners, particularly those already affected by disasters like Hurricane Sandy and Hurricane Irene.

The resolution calls for immediate action to provide relief to property owners who have experienced frequent losses and are facing high insurance costs. It notes the disparity in federal response times to Hurricane Sandy compared to other disasters, which has delayed necessary assistance for victims. By urging an increase in subsidies, the resolution aims to alleviate the financial burden on homeowners in flood-prone areas, ensuring they can maintain affordable flood insurance coverage. Copies of the resolution will be sent to key federal officials to advocate for this legislative change.