House Financial Services Committee Ranking Member Maxine Waters (D-CA) released a statement this morning calling on Congress to address pending rate increases for the National Flood Insurance Program, expressing “outrage” over the “flood insurance premiums that have resulted from the Biggert-Waters Act.”
“I certainly did not intend for these types of outrageous premiums to occur for any homeowner,” Rep. Waters said. “With these rate increases approaching, time is running out. Congress must act quickly to ensure flood insurance rates do not make homeownership unaffordable or harm our housing market.”
Read Rep. Waters' statement.