Cassidy Comments on Senate Passage of Flood Insurance Reform

WASHINGTON, D.C. – January 31, 2014 – (RealEstateRama) — Today, Congressman Bill Cassidy, M.D. commented on the Senate approving the Menendez-Isakson Homeowner Flood Insurance Affordability Act. The legislation is part of an effort to reform flood insurance which started with the Cassidy Amendment, a current law which suspends certain rate hikes for up to 400,000 Louisianans through next year. Dr. Cassidy also helped introduce the House version of the legislation that passed today. He released the following statement:

“I’m pleased the Senate passed the Menendez-Isakson bill. As an original co-sponsor of the identical bill in the House, I would like to see it signed into law. Unfortunately, the President has said that he is opposed to the Menendez-Isakson bill. If the first step was the Cassidy Amendment which delays rate increases for people in their primary residences through this Fiscal Year and beyond, then the next step has to bring more comprehensive relief. Even if the President opposes, we’ll continue to work to that end.”

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