JONES HITS OBAMA OPPOSITION TO BILL TO DELAY FLOOD INSURANCE RATE HIKES

WASHINGTON, D.C. – Today, Congressman Walter B. Jones (NC-3) issued the following response to the Obama administration’s statement of opposition to S. 1926, the Homeowner Flood Insurance Affordability Act of 2014.  The legislation would delay enactment of certain parts of the 2012 Biggert-Waters Flood Insurance Reform Act, which altered the National Flood Insurance Program (NFIP) and is causing large flood insurance rate increases across the country.  Under S. 1926, rate increases would not be implemented until the Federal Emergency Management Agency (FEMA) completes a previously mandated study on the affordability of the new rates and proposes solutions to the severe increases.  Congressman Jones is a cosponsor of the House version of the bill and has supported multiple other efforts to delay severe rate increases in Eastern North Carolina.   

“The president’s opposition to legislation that will help homeowners stuck with skyrocketing flood insurance rates is completely unacceptable,” said Congressman Jones.  “NFIP reforms should not cause individuals in Eastern North Carolina and across the country to suffer sudden, exorbitant rate increases.  Instead, I believe a delay in implementation of the new rates will provide time for adjustments to be made that will allow flood insurance to remain affordable as well as ensure the financial health of the National Flood Insurance Program.  If the president is truly concerned about the latter, I suggest he stop wasting billions of U.S. taxpayer dollars vainly trying to prop up the corrupt government of the Islamic Republic of Afghanistan and start addressing problems here at home.”   

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