SCHRADER’S EFFORTS TO DELAY COSTLY, UNFAIR FLOOD INSURANCE PREMIUM HIKES PASSES THE HOUSE
After meeting with coastal residents and state and local officials throughout much of last year, Congressman Kurt Schrader helped lead the charge in the House of Representatives to get this critical lifeline into a must-pass appropriations bill.
“Most folks who live in areas prone to flooding, particularly Oregonians living along the coast, are stuck with a great deal of uncertainty about the country’s severely underfunded National Flood Insurance Program,” said Schrader. “Coastal residents in my district were hit hard by the recession and can’t afford sky-high premium increases. My work bought Congress some more time to sit down and hammer out a bill that will make the NFIP more sustainable so that premiums remain affordable.”
The FY2014 omnibus appropriations bill, which the House of Representatives has passed and will now be considered by the Senate, contains a provision that blocks the U.S. Federal Emergency Management Agency (FEMA) from preparing for scheduled premium increases on people whose homes are not currently part of a flood zone but at considered “flood prone” under the new maps. Although this provision only applies to residential properties and not vacation homes and businesses, Congressman Schrader’s work will provide real relief for residents of Lincoln and Tillamook counties.
The delay provision expires on September 30, 2014.