The House passed and sent to the Senate late Tuesday legislation that completely revamps the flood insurance premium structure imposed by a 2012 law.
Congress acted under intense pressure. As stated by Rep. Shelley Moore Capito (R-W. Va) when the House opened debate on the bill, "when the new flood insurance rates were published last fall, I met with many people in West Virginia who were shocked by the flood increases in their bills that far exceeded the worst-case scenarios."
According to Capito, the only choice of homeowners "was to spend their life savings or walk away from their house."
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