WASHINGTON, D.C. – January 30, 2014 – (RealEstateRama) — Today, Congressman Bill Cassidy, M.D. commented on the President’s opposition to the Menendez-Isakson Homeowner Flood Insurance Flood Affordability Act. Dr. Cassidy is an original co-sponsor of the House version of this legislation and the author of the Cassidy Amendment, which became law last week and will suspend certain flood insurance rate increases for up to 400,000 Louisianans for more than one year. Dr. Cassidy released the following statement:
“It is disappointing that the President does not understand that how FEMA is interpreting Biggert-Waters is contributing to the unaffordability of flood insurance. Millions of homeowners, including many Louisianans, are suffering due to FEMA’s implementation of the Biggert-Waters Act. I will continue to work to reform flood insurance and make sure insurance premiums are fair and affordable.”
