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Wednesday, August 21, 2013

Senate Banking Committee to Hold Flood Insurance Hearing

Sen. David Vitter (R-LA), a member of the Senate Banking Committee (SBC), announced that the Committee has scheduled a hearing, tentatively set for September 18th, to hear testimony by FEMA Director Craig Fugate regarding the "potentially drastic increases to flood insurance premiums under the National Flood Insurance Program (NFIP)."

According to Sen. Vitter he has "three key requests for Fugate and the Obama administration:
  • The President has delayed Obamacare because it's not ready; is FEMA willing to delay Biggert-Waters for at least a year?
  • Will FEMA agree to halt releasing new flood insurance rate maps until issues involving their accuracy, such as those raised by parish officials in Louisiana, are worked out?
  • Will FEMA join the Louisiana delegation in proposing its own administrative fixes on Biggert-Waters, particularly the affordability issue?" 
Learn more from Sen. Vitter.