Two Garbarino Bills advance in the Financial Services Committee that would deliver real results for Long Islanders

WASHINGTON, D.C. — Last week, two bills sponsored by Congressman Andrew R. Garbarino (R-NY-02) that are critical to Long Island’s housing market and small business community were advanced during the House Financial Services Committee’s markup.

H.R. 5577, the NFIP Extension Act, would ensure the National Flood Insurance Program remains fully operational even in the event of a government funding lapse through Fiscal Year 2026. During the recent shutdown, NFIP’s brief lapse froze policy renewals and home closings. This was an especially disruptive outcome for coastal communities like Long Island, where flood insurance is often required to secure a mortgage.

The second bill, H.R. 4130, the Small Business Relief Act, updates outdated SEC rules that can force growing private companies into costly public registration. This legislation would allow Long Island businesses to grow and innovate without being burdened by unnecessary compliance costs.

“Long Island families and small businesses depend on stability and predictability to plan, invest, and grow,” said Congressman Garbarino. “Whether it’s keeping flood insurance available for homeowners or ensuring small businesses can access capital without unnecessary red tape, these bills would address real challenges facing our region.”

Today’s committee markup is a critical step in the legislative process, allowing Members to debate, amend, and advance legislation before the full House can consider it.

“These are practical solutions that protect Long Island homeowners and support local small business owners,” Garbarino added.

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