Flood insurance reform gets House O.K.
The Homeowner Flood Insurance Affordability Act passed the U.S. House via a vote of 306 to 91.
“The passage of this bill represents a major, uplifting milestone in our city’s long road to recovery since Superstorm Sandy,” said sponsor Congressmember Michael Grimm. “These hard-fought reforms will keep hardworking families in their homes, businesses open, and restore vitality to our fragile housing market.”
If passed in the Senate and signed by President Obama, the bill would “halt premium increases that were speeding toward families impacted by Superstorm Sandy like a runaway freight train,” said Congressmember Hakeem Jeffries, a co-sponsor.