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Short Delay in Flood Rates Inserted Into Omnibus Spending Bill

Senator Mary Landrieu (D-La.), Chair of the Senate’s Department of Homeland Security’s appropriations subcommittee, was successful late last night (Tues., Jan. 14) in getting a delay of some increased flood insurance rates into an omnibus appropriations bill that is about to be considered on Wednesday, Jan. 15...
January 15, 2014

Senator Mary Landrieu (D-La.), Chair of the Senate’s Department of Homeland Security’s (DHS) appropriations subcommittee, was successful late last night (Tues., Jan. 14) in getting a delay of some increased flood insurance rates into an omnibus appropriations bill that is about to be considered on Wednesday, Jan. 15. The measure delays some of the premium increases through the end of fiscal 2014.

This is part of a strategy by opponents to bring about a much longer delay. The Homeowner Flood Insurance Affordability Act, which Landrieu, Sen. Robert Menendez (D-N.J.) and Rep. Bill Cassidy (R-La.) sponsored, would delay most of the increases resulting from the 2012 Biggert-Waters flood insurance reform law for four years. The main exceptions are second homes, and homes with severe repetitive loss claims.

The House is scheduled to vote on the spending bill Wednesday, with the Senate expected to follow later this week. A key procedural vote in the Senate on the Flood Insurance Affordability Act – requiring 60 votes – could still occur this week, but may take place after a 10-day recess, beginning Friday.

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