Rep. Ron Kind Commends Senate for Voting to Lower Flood Insurance Premiums

WASHINGTON, DC – U.S. Rep. Ron Kind (D-WI) commended the U.S. Senate for passing comprehensive legislation designed to end unaffordable flood insurance rate hikes. The bill was passed with broad bipartisan support in the House last week and now heads to the President for his signature.

“Last week, I visited with one of the many Wisconsin families affected by the threat of skyrocketing flood insurance rates. After living in their home for 17 years, they were told their rates could suddenly increase sevenfold,” said Rep. Kind.  “Fortunately, relief is on the way and I urge the President to sign this bill into law as soon as possible for the sake of homeowners in Wisconsin and across the country.”

Joined by a broad bipartisan majority in the U.S. House, Rep. Kind supported the Homeowner Flood Insurance Affordability Act last week. Having passed in the Senate with a strong 72-22 bipartisan vote, the bill now heads to the President’s desk to be signed into law.

The bill will provide homeowners with clarity and certainty that the cost of their insurance will not force them from their homes, undercut their ability to buy or sell a home, or result in depressed home prices. Additionally, it would bring accountability to the Federal Emergency Management Agency (FEMA), requiring it to provide Congress with the affordability study that was supposed to be finished almost a year ago. It would also limit yearly premium increases to 15-18 percent.