Congressman Joe Garcia introduces Flood Insurance Mitigation Bill
U.S. Congressman Joe Garcia (D-Key West) has introduced the HOME Act of 2014 – legislation aimed at addressing the harmful effects of Biggert-Waters by delaying skyrocketing flood insurance rates, demanding FEMA conduct an affordability study, and creating a long-term solution by emphasizing the importance of mitigation.
“The impact of Biggert-Waters upon South Florida has been alarming and unacceptable,” said Garcia. “I have had constituents see their insurance premiums jump from $2,000 to $49,000. I am introducing this bill because there needs to be a way to protect our hardworking families, communities, and local industries from carrying the burden of these outrageous rate increases. ”
The bill would place a five-year delay on rate increases across the board. The legislation also creates long-term solutions to the National Flood Insurance Program’s (NFIP) underlying issues by incentivizing mitigation measures.
Earlier, the Omnibus spending bill included an amendment sponsored by Garcia that delays certain rate increases through the end of FY2014. “We must continue to fight until home and business owners everywhere have been released of the exorbitant burden placed upon them by these insurance increases,” Garcia said.
Garcia said he is committed to finding permanent solutions to this national issue.
Florida Delegation members Rep. Alcee Hastings (FL-20), Rep. Frederica Wilson (FL-24), Rep. Lois Frankel (FL-22), and Patrick Murphy (FL-18) have signed on as cosponsors to the HOME Act.
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Dear Mr. Garcia,
We thank you for your efforts in supporting Firm and the legislation you introduced on Thursday.