House Pushes Bill to Ease Flood Insurance Hikes

By: Associated Press
By: Associated Press

WASHINGTON The House is pressing ahead with legislation to roll back a recently enacted overhaul of the federal flood insurance program after homeowners in flood-prone areas complained about sharp premium increases.

Lawmakers scheduled a vote for Tuesday night that would allow sellers to pass along their subsidized, below-market insurance rates to new buyers and lower the cap on how much flood insurance premiums can rise each year.

Rep. Michael Grimm, a New York Republican who co-sponsored the bill, says it would ensure that families across the country, including those still struggling to recover from Superstorm Sandy, can avoid "a wave of devastating premium hikes and foreclosures."

The bipartisan bill would tone down a 2012 law aimed at weaning hundreds of thousands of U.S. homeowners off subsidized flood insurance rates.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 248458411 - kbtx.com/a?a=248458411