WASHINGTON — Twenty-four U.S. senators, including both from Mississippi and both from Louisiana, have signed a letter saying they want “immediate relief” for people facing steep rate increases for coverage in the National Flood Insurance Program.
The letter was sent to Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell.
The rate hikes were passed in 2012 to keep the NFIP solvent after an onslaught of claims from Hurricane Katrina in 2005. The law removes federal subsidies from properties in flood zones.
The senators’ letter says the Federal Emergency Management Agency only recently started an affordability study that’s required as part of a 2012 law that reauthorized the NFIP.
Mississippi’s U.S. senators are Republicans Thad Cochran and Roger Wicker. Louisiana’s are Democrat Mary Landrieu and Republican David Vitter.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info