Wasserman Schultz Supports Bill to Delay Flood Insurance Rate Increases

WASHINGTON – On the one year anniversary of Superstorm Sandy on Wednesday, a bipartisan coalition of 82 Members of the House of Representatives introduced legislation that would delay most flood insurance rate increases for four years and requires the Federal Emergency Management Agency (FEMA) to complete an affordability study and propose a framework that addresses affordability issues. A companion measure was introduced in the U.S. Senate by Senators Robert Menendez (D-NJ) and Johnny Isakson (R-GA). U.S. Rep. Debbie Wasserman Schultz is a co-sponsor of the legislation and released the following statement:

“We must do all we can to make flood insurance affordable, and this bill is the first step in the right direction. It allows for time to research the most affordable and efficient ways to reform the National Flood Insurance Program so that we can ensure stability for Florida homeowners. Skyrocketing premiums could cause financial hardship for South Florida homeowners and risks destabilizing our local housing market. I urge my fellow colleagues in the House and Senate to support this sensible, bipartisan proposal.”