MacArthur plans to zero in on NFIP during new Congressional session
The Federal Emergency Management Agency and its National Flood Insurance Program find their newest watchdog in a Jersey Shore Congressman who's been an outspoken critic of both since the aftermath of Superstorm Sandy.
For the 115th session, Representative Tom MacArthur (R-3) occupies a seat on the House Financial Services Committee, which has primary responsibilities in matters of the national economy, banks, housing, insurance, and securities.
The Committee's jurisdiction also includes monetary policy, international finance and monetary organizations, and efforts to sever cash flow to terrorist organizations.
The Republican, whose district extends through Ocean and Burlington Counties, said that he's grateful to represent South Jersey on the panel.
"Whether it's buying a car, your first home, starting a business or investing in the future, Financial Services touches some of the largest financial decisions and milestones in all of our lives," he said in prepared comments.
"In particular, I am anxious to begin work to reform the National Flood Insurance Program to give all Jersey shore residents certainty in the future."
The House Financial Services Committee oversees the Federal Reserve Board, the banking system and individual banks, Federal Deposit Insurance Corporation, Department of Housing and Urban Development, Federal Housing Finance Agency, Treasury Department, minting and distribution of currency, and the Export-Import Bank.