01.30.14

Comment Of Senator Patrick Leahy (D-Vt.) On Senate Passage Of S. 1926 The Homeowner Flood Insurance Affordability Act Of 2014

[Senator Patrick Leahy (D-Vt.)praised Senate passage Thursday of legislation that would provide relief to homeowners subject to dramatic increases in flood insurance rates. The legislation would ensure that the Federal Emergency Management Agency completes a study on flood insurance affordability before new premiums take effect.]

“Tropical Storm Irene brought into sharp focus the importance of the National Flood Insurance Program for non-coastal states like Vermont.  Efforts to strengthen the program were never intended to produce policies that put an unfair burden on homeowners.  Conducting the affordability studies required by the Homeowner Flood Insurance Affordability Act before any such substantial premium increases were implemented is a prudent step that will provide relief to many Vermonters.  I hope the House will consider this remedy soon to provide needed relief to homeowners already feeling the crunch of these often crippling new fees.”

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