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    Subject Term: "Household income"

    2 publications with a total of 2 open recommendations
    Director: Anne-Marie Fennell
    Phone: (202) 512-3841

    1 open recommendations
    Recommendation: To reduce the cost of the crop insurance program and achieve budgetary savings for deficit reduction or other purposes, Congress should consider reducing the level of federal premium subsidies for revenue crop insurance policies. In doing so, Congress should consider whether to make the full amount of this reduction in an initial year, or to phase in the full amount of this reduction over several years. In addition, Congress should consider directing the Secretary of Agriculture to monitor and report on the impact, if any, of the reduction on farmer participation in the crop insurance program.

    Agency: Congress
    Status: Open

    Comments: As of January 2018, Congress has not taken action to implement this matter.
    Director: Cackley, Alicia P
    Phone: (202) 512-8678

    1 open recommendations
    Recommendation: To establish full-risk rates for properties with previously subsidized rates that reflect their risk for flooding, the Secretary of the Department of Homeland Security (DHS) should direct the FEMA Administrator to develop and implement a plan, including a timeline, to obtain needed elevation information as soon as practicable.

    Agency: Department of Homeland Security
    Status: Open

    Comments: As of February 2018, FEMA is undertaking a multi-year effort to modernize its rating approach to reflect industry best practices, such as providing credible, understandable rates based on graduated risk. We reported in February 2016 in GAO-16-190 that FEMA would evaluate the appropriate approach for obtaining or requiring the submittal of information needed to determine full-risk rates for subsidized properties. FEMA also said it would explore technological advancements and engage with industry to determine the availability of technology and data that could be used to implement the recommendation. However, FEMA officials also said that obtaining elevation information could take considerable time and cost, and requiring policyholders to incur the cost would not be consistent with NFIP's policy objective to promote affordability. The agency encourages subsidized policyholders who seek to ensure the appropriateness of their NFIP rates to voluntarily submit elevation documentation.