On the recordJanuary 8, 2014
Thank you, Congressman Keating. I would like to reiterate the devastating effects that these premiums are having on the values of homes, affecting retirement plans, retirement plans for a lot of our seniors in the district. Tom Rishel, Tom is out of a pension. He does not have a retirement plan, so he invested in several properties in Muncy, Pennsylvania, hoping to one day resell the properties. His premium, on just one property, has jumped from $600 a year to over $9,500 a year. Tom, who is 70 years old, fears his properties are worthless and his dreams of retirement have been destroyed. Mr. Speaker, at this time, I yield to the gentleman from Mississippi, Congressman Palazzo.
