CEDM News: Examining the Role of Government Assistance for Disaster Victims: A Review of H.R. 3042 Examining the Role of Government Assistance for Disaster Victims

“CEDM investigator Howard Kunreuther provides a testimony on “Examining the Role of Government Assistance for Disaster Victims: A Review of H.R. 3042
Examining the Role of Government Assistance for Disaster Victims”

H.R. 3042 is proposed legislation that proposes changes to federal disaster loans under the Small Business Administration. In the event of a declared disaster, H.R. 3042 would provide SBA loans at 1 percent interest for eligible applicants in the disaster area, with or without credit available elsewhere. This rate would apply for the duration of all loans under such programs made while that declaration is in effect.

On Thursday, February 16, 2012, the Committee on Small Business Subcommittee on Economic Growth, Tax and Capital Access conducted a hearing entitled Examining the Role of Government Assistance for Disaster Victims: A Review of H.R. 3042.

Howard Kunreuther was among those who testified at the hearing, to offer members of the Subcommittee information on potential consequences of the legislation, and the role of insurance and other policy tools to reduce future losses.

To view video of Howard Kunreuther’s testimony before the Subcommittee, go to http://smbiz.house.gov/Multimedia/?VideoID=F1h4FvRIvuM

Written testimony is attached and available online at: http://smbiz.house.gov/UploadedFiles/Kunreuther_Testimony.pdf

Information on the House Committee on Small Business, Subcommittee on Economic Growth, Tax and Capital Access is available online at: http://smallbusiness.house.gov/Calendar/EventSingle.aspx?EventID=279111 “