Legislators trying to make changes to national flood insurance overhaul
POSTED: Tuesday, October 29, 2013 - 10:00pm
UPDATED: Tuesday, October 29, 2013 - 10:04pm
LOUISIANA (NBC33) — Lawmakers unveiled legislation that would delay several changes to the federal government's flood insurance program.
The move comes as the federal government is beginning to begin an overhaul of the much-criticized program.
The overhaul passed last year with sweeping support.
The revamped program was backed by both Liberals and Tea Party Conservatives, but has caused a panic in flood-prone places across Louisiana, where higher flood insurance rates could force some people out of their homes.
"This is a real threat to the economic well-being of many communities,” stated Senator Mary Landrieu. “But I just have to say how proud I am of the leadership, both House and Senate, at a time when it's hard to find any common ground. We have worked hard to find common ground to help 5 million people that have flood insurance, many of them in the state of Louisiana."
Some of the biggest supporters of delaying the premium increases are Republicans from southern states, where the new rules have sent some home values plummeting because of uncertainty over insurance rates.