Reid sets up flood insurance vote for late January

In the Senate's last act for the week, Majority Leader Harry ReidHarry ReidSay NO to PROMESA, say NO to Washington overreach Overnight Finance: Wall Street awaits Brexit result | Clinton touts biz support | New threat to Puerto Rico bill? | Dodd, Frank hit back McConnell quashes Senate effort on guns MORE (D-Nev.) filed a motion to end debate on legislation that would delay scheduled flood insurance rate increases.

Reid's motion, which was approved by unanimous consent, means the Senate will vote on Jan. 27 on ending debate on that legislation, S. 1926 from Sen. Robert MenendezRobert MenendezOvernight Cybersecurity: Senate narrowly rejects expanding FBI surveillance powers Senate narrowly rejects new FBI surveillance Kaine, Murphy push extension of Iran sanctions MORE (D-N.J.).

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Members of both parties have been searching for ways to slow down the pending rate increases, which were approved in 2012 as a way to ensure the financial viability of the National Flood Insurance Program.

Republicans and Democrats have fought all week on amendments to a bill extending emergency unemployment insurance. But Reid said the two parties seem fine with allowing up to 10 amendments to the flood insurance bill, when they return.

Both the House and Senate are off next week for the Martin Luther King Jr. holiday. However, neither appear to be formally recessing, and instead they will hold a few pro forma sessions in between now and the week of Jan. 27.

The Senate will hold its first pro forma session at 11:15 a.m. Friday, and the House will do the same at 1 p.m. No legislative work is expected in either meeting.

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