The Senate voted 86-13 in favor of ending debate and voting on the Homeowner Flood Insurance Affordability Act later this week.
“This bill focuses on ideals that had broad bipartisan support,” said Sen. Bob Menendez (D-N.J.) of the bill that would delay Biggert-Waters premium hikes by four years and make several changes to the law, like requiring the Federal Emergency Management Agency to directly address homeowners’ skyrocketing rates.
Though talk of reforming and even repealing Biggert-Waters rumbled through the House earlier this month, Speaker Boehner says he’s in favor of making only modest changes to the bill. Boehner’s remarks, coupled with a flood insurance program tumbling farther into the red, could make the Homeowner Flood Insurance Affordability Act a tough sell in the Republican-controlled House.
