"House Votes To Curtail Flood Insurance Rate Hikes"

"WASHINGTON -- The House of Representatives, in a bipartisan vote of 306-91 Tuesday night, agreed to limit premium rate increases under the National Flood Insurance Program."

"The bill must still pass the Senate or be reconciled with a version of flood insurance legislation that the chamber approved in January.

If the House version becomes law, with President Barack Obama’s signature, the measure would eliminate some of the changes made in a 2012 law that required the Federal Emergency Management Agency to raise rates to reflect flood risk. The law was intended to reduce losses to the insurance program, which is $24 billion in debt."

Renee Schoof reports for the McClatchy Washington Bureau March 4, 2014.

Wednesday, March 5, 2014