This is a postscript to an article posted here on January 22, 2014, "CANUTE STOPS THE TIDE AGAIN. For the first time."
THE UNRAVELING OF PUBLIC POLICY ON FLOOD INSURANCE, or, FOUR DAYS IN JANUARY.
JANUARY 28-30, 2014:
The U.S. Congress is poised to repeal the policy reforms that would have made it more expensive for buyers to purchase Flood Insurance coverage for properties in Flood Zones, and less expensive for Federal Taxpayers by reducing subsidies of Flood Insurance in Flood Zones.
To put it another way, Congress is ready to restore the Federal Taxpayer subsidy in the National Flood Insurance Program for buyers who choose to buy properties located in Flood Zones, and who need Flood Insurance to buy properties there -- and who will continue to buy their Flood Insurance for properties in Flood Zones using subsidies provided by Congress from the Federal Taxpayers. See, e.g., Coral Davenport, "Popular Flood Insurance Law is Target of Both Political Parties" (New York Times Online, posted January 28, 2014).
JANUARY 31, 2014:
The Senate passed the Flood Insurance Premium bill of delay on January 30, 2014 by a vote of 67 to 32. The bill now goes to the House of Representatives. "National Briefing," "WASHINGTON Flood Insurance Bill Moves to House," by Coral Davenport, p. A17, col. 5 (New York Times Nat'l ed., Friday, January 31, 2014).
By the time this article is posted, the House too may have voted for the bill of delay. Or the House may have delayed voting on the bill, no-one can tell. Whatever happens, this blog will be here to post the news.
Is the House in Session before February 5th?
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© 2014 by Dennis J. Wall. All rights reserved. No claim to original U.S. Government works.