Share “House to vote to ease flood insurance rate...”

House to vote to ease flood insurance rate hikes

Published on NewsOK Modified: February 12, 2014 at 7:07 pm •  Published: February 12, 2014
Advertisement

WASHINGTON (AP) — The No. 2 House Republican says the GOP-controlled chamber will vote later this month to ease some of the flood insurance premium increases hitting both coastal homeowners and people in inland flood zone.

Virginia Republican Eric Cantor says the House measure won't go as far as a Senate-passed bill that amounts to a four-year delay of premium increases enacted less than two years ago. Those changes were intended to reform the much-criticized federal flood insurance program, which is about $24 billion in the red.

But the Federal Emergency Management Agency's implementation of the reforms is threatening some homeowners with shocking premium increases that would make many people unable to afford their homes or sell them.

Cantor says details on the House measure will come later.


AROUND THE WEB

  1. 1
    Man charged with raping, beating ex-girlfriend is named Tulsa's Most Wanted fugitive
  2. 2
    Tulsa man accused of distributing child porn after undercover investigation
  3. 3
    Sister Helen Prejean appeals to governor to stay convicted killer Richard Glossip's execution
  4. 4
    Son and five others indicted on murder charges in Pryor woman's overdose death
  5. 5
    Du'Vonta Lampkin released by Texas, eligible for OU football
+ show more

FEATURED JOBS



× Trending business Article