While there was some optimism in recent weeks about delaying a federal flood insurance rate hike set to kick in next year, a report this week from Charlotte County’s Washington lobbyist expressed serious doubts about any relief measures getting through Congress.
The Biggert-Waters Flood Insurance Act was designed to align flood insurance rates more closely to flood risks. For home and business owners in flood-prone areas, that will translate into higher rates. Bipartisan bills introduced in both houses of Congress — H.R. 3370 and S. 1610 — aimed at delaying rate increases have drawn 164 co-sponsors, according to the report by Van Scoyoc Associates.
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