Providing for Consideration of Senate Amendments to H.R. 3547, Space Launch Liability Indemnification Extension Actby Representative Gregory W. Meeks
Posted on 2014-01-15
MEEKS. Madam Speaker, while I intend to support the omnibus
appropriation bill, I wanted to voice my deep concern and
disappointment that the omnibus appropriation bill fails to address the
unemployment insurance issue, as well as it fails to address the rising
flood insurance premiums facing millions of those who have been
impacted by Superstorm Sandy.
Rather than amend the Biggert-Waters Flood Insurance Act in a comprehensive way, the omnibus contains language that temporarily delays flood insurance premium increases for a year and for just a segment of policy owners. After that year, flood insurance premiums could continue to rise exponentially for newer policies. This is crippling our housing market recovery in areas like New York City, New Jersey, Connecticut, and others that were hard hit by Superstorm Sandy.
Though this temporary delay may be better than nothing, it is not the certainty that the Nation's 5.5 million flood insurance owners deserve and need. Again, I call on Congress to bring up a comprehensive flood insurance reform legislation quickly in order to provide economic certainty to at-risk neighborhoods across our great country.