Rep. Maxine Waters, D-Calif., wants to use her power as House Financial Services Committee chairwoman to overhaul a program that touches millions of homeowners: the National Flood Insurance Program.

The federal program, created in 1968, has become the top insurance option for homeowners living in flood plains. In total, the program provided $1.3 trillion worth of coverage in 2018 to more than 5 million homes and businesses.