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Marino urges House leadership to act on rising flood insurance premiums
December 20, 2013
For Immediate Release
December 20, 2013
Washington, D.C. –U.S. Representative Tom Marino (R-PA) urged House Speaker John Boehner in a letter to bring legislation related to the increases in flood insurance premiums to the House floor for consideration as soon as possible.
“Many of my constituents have contacted me in support of these legislative proposals,” Marino said in the letter, citing what he has heard from residents across Pennsylvania’s 10th Congressional District.
“One individual who purchased a home valued under $150,000 last year is facing a premium increase of more than $8,000. An elderly man who purchased several properties as a retirement investment is considering abandoning the homes and walking away from the mortgage obligations, while another couple in Jersey Shore who similarly invested in several Main Street properties is facing a $40,000 flood insurance bill.”
Marino, along with several colleagues who also have large constituencies affected by the increases to flood insurance premiums, urged House leadership to bring legislation to the floor for debate before the House adjourned for the legislative session but were unsuccessful.
“As a co-sponsor of several pieces of legislation related to the premium rate increases currently awaiting further action in the House Committee on Financial Service, I ask that Members have the opportunity to debate and vote on legislation that could assist our constituents as we continue efforts to reform the National Flood Insurance Program (NFIP) to make the program financially stable for taxpayers without becoming overly burdensome on homeowners and small businesses,” Marino added.
The 113th Congress will convene on January 7, 2014 to start its second legislative session.