ASFPM supports many of the provisions of the 2012 NFIP Reform bill, otherwise known as Biggert-Waters 2012, usually shortened to BW-12. A centerpiece of this reform bill was to make the NFIP more financially sound. At the time the bill passed (May 2012) and was signed (7-6-12), the NFIP was over $17 billion in debt to the US Treasury (taxpayer), with little chance the program could ever repay that debt (now, the program is $23 billion in debt to the Treasury , [expected to go to $25 billion as a result of Sandy]). As such, Congress looked closely at why the program was in debt and what could be changed to improve it. The changes include many provisions for significant increases in flood insurance premiums to move them toward full risk rates and other measures to improve the financial soundness of the NFIP. ASFPM supports fiscal soundness for the NFIP.