House Approves Bill To Roll Back Flood Insurance Rate Hikes

Law360, New York (March 4, 2014, 7:31 PM EST) -- The U.S. House of Representatives on Tuesday overwhelmingly passed legislation to curb steep rate hikes required under 2012 reforms to the troubled National Flood Insurance Program, just days after Democratic leaders struck a key compromise with Republicans on the controversial measure. 

The House voted 306-91 on Tuesday to greenlight H.R. 3370, the Homeowner Flood Insurance Affordability Act, a bill that lawmakers introduced following an uproar over planned rate increases to the government's flood insurance program, which is $24 billion in debt to taxpayers. The Senate has...
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