ICYMI: Senate Hopeful Whatley Backed FEMA Plan That Could Boost His Portfolio

Raleigh, NC  —  The Asheville Citizen-Times reported that GOP Senate Candidate Michael Whatley worked to push flood insurance business to private insurance companies, while he and his family held an investment stake of up to $190,000 in companies tied to the flood insurance market. Whatley is a member of Trump’s FEMA Review Council and a co-chair of the subcommittee which delivered the council’s recommendations to reform the agency, including a recommendation to effectively privatize the National Flood Insurance Program and move more flood insurance policies to private companies like those he invested in. 

This is not the first time Whatley has found financial benefit from moves made by the  Trump administration, as he’s also gained from market changes due to Trump’s war in Iran. Whatley made up to $219,660 from his investments in oil and gas companies between the start of the war and April 1st. 

Meanwhile, the cost of groceries, healthcare, and utilities continues to skyrocket across the state as a result of the Trump administration’s actions. Recent research from Center for American Progress Action Fund and Climate Power shows that one year after the GOP budget bill was signed into law, Trump’s policies have raised costs for North Carolina families by $1,964 per household through the first half of 2026. For families that buy health care coverage through the ACA marketplace, that total climbs to $3,477. By the end of 2026, those totals could grow to $3,040 and $6,065, respectively. 

Climate Power NC State Director Terryn Hall issued the following statement: 

“Our bills are too high, and all Michael Whatley knows how to do is line his pockets with money from war and disaster. North Carolina deserves leadership that will prioritize affordability and rebuilding, not greed and personal gain.” 

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