On the recordMarch 26, 2014
I was happy to see the President sign H.R. 3370, the Homeowner Flood Insurance Affordability Act. This bill is an important first step in addressing affordability in the national flood insurance program, but we have a long way to go to put solvency back into the system. We are working hard not only through the appropriations process, but also with leadership and other Members in coastal districts whose constituents have been victims of the rate increases brought about by Biggert-Waters. H.R. 3370 has some great provisions, including: removal of the dreaded ``sales trigger'' that would have devastated the housing and real estate markets in Florida and other states. Perhaps most importantly, we were able to reassure FEMA of the importance of the affordability study. Mr. Speaker, the next step is to find new ways to stabilize NFIP and make flood insurance more affordable for homeowners and small businesses. I will continue working with my colleagues in Florida and across the country to put some stability back in this important system. ____________________
