Congress scrambles as coastal residents rail at insurance rates
Fiscally conservative groups cite a Congressional Budget Office analysis that projects delaying the rate hikes would cost $900 million over five years and cause the program to lose $2.1 billion over a decade.
R.J. Lehmann, a senior fellow at the R Street Institute, a free-market think tank, said the government should not be subsidizing homeowners’ decisions to move into wetlands and other environmentally sensitive areas: “Homeowners should be paying what the risk bears. That is one of the bases of insurance.”
