New Bill Would Halt Flood Insurance Rate Hikes For Years

Law360, New York (October 28, 2013, 2:26 PM EDT) -- Rep. Maxine Waters, D-Calif., on Monday unveiled a bipartisan proposal that would put off by four years rate hikes required under a law she championed to reform the government's heavily indebted flood insurance program.

Citing affordability concerns, the top Democrat on the House financial services committee said the proposed legislation would amend the Federal Emergency Management Agency's implementation of the Biggert-Waters Flood Insurance Reform Act, which President Barack Obama signed into law in 2012.

Waters and fellow lawmakers will release the proposed fix early next week...
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