Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 3307, the Homeowner Flood Insurance Affordability Act. Today, I am pleased to lead the Democratic Party in delivering this message to the thousands of Americans who are facing unaffordable flood insurance premiums: relief is on the way. As we committed to many months ago, Democrats have worked to fix this problem from the moment we heard about the unintended consequences of the Biggert-Waters Flood Insurance Reform Act. Mr. Speaker, because I am the Waters of the Biggert-Waters Flood Insurance Reform Act, I felt a responsibility to make sure that we deal with the concerns that were coming to us from our constituents all over this country. The rate increases were unimaginable. So Democratic lawmakers in the House and the Senate took action, spearheading bipartisan legislation that passed the Senate and garnered the support of a majority of the House of Representatives. Today, we have worked in good faith with Republican leadership to achieve a measure that isn't perfect but that will provide real relief to the thousands of families currently facing unaffordable premiums. I believe this House measure strikes an important balance, addressing affordability concerns, bringing accountability to FEMA, and protecting the stability of the National Flood Insurance Program.…
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Mr. Speaker, I yield 3 minutes to the gentleman from California (Mr. Sherman), who is also the ranking member of the Subcommittee on Capital Markets.





