In the News Senate votes to delay flood-rate hikes for four years
Ray Lehmann, a fellow at the R Street Institute in Washington doubted that the Senate bill will even get a vote in the House, even though it has 185 co-sponsors in the House. “If a bill makes it to the House floor, it will look like the amendment sponsored by Sen. Pat Toomey, R-Pa.” he said. That amendment was defeated by the Senate, 65-34.
The Toomey amendment would cap annual rate hikes at 25 percent annually and pays for it by imposing a $40 on each NFIP policy, except for those with incomes about $500,000 who can pay up to $80 annually.
