Obama expected to OK revised flood insurance
WASHINGTON — The Senate voted on Thursday to approve bipartisan legislation that would block dramatic increases in premiums paid by some property owners covered under the federal flood insurance program.
The 72-22 vote sends the bill to President Obama, who is expected to sign it. The House approved the legislation last week.
Under the bill, called the Homeowner Flood Insurance Affordability Act, premiums under the National Flood Insurance Program could increase no more than 18 percent per property annually.
The legislation was crafted by Rep. Michael Grimm, R-N.Y., in response to premiums that in some cases had increased tenfold.
Rep. Bill Cassidy, R-La., who worked on the compromise, said recently that the House measure strikes “the right balance” between fiscal solvency for the flood insurance program and consumer affordability.
Supporters of the measure said the premium increases were making it impossible for many people to keep their homes or sell them.
Critics say taxpayers will be left to foot the bill for the financially troubled insurance program.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Colorado clinic shooting suspect talked of baby parts, police say
- Police officer killed in Colorado Spring clinic rampage a co-pastor, figure skater
- Police union stands by Chicago officer charged with murdering teen
- Slow-moving, wintry storm packs punch in Plains, Midwest
- Investors buy shares in college students: Purdue University thinks it’s wave of future
- Disability claim waits grow alongside swelling caseloads for judges
- Authorization for NSA dragnets of phone call data expires
- Federal $1.1 trillion spending bill loaded with policy deals
- Chicago retail district targeted by protesters
- Pot doctors in medical marijuana states push boundaries with marketing
- Prof proposes museum of corruption in New York capital