Oh, good: Congress moving on a reprieve for already-subsidized federal flood insurance « Hot Air

Oh, good: Congress moving on a reprieve for already-subsidized federal flood insurance « Hot Air: "Why is it that whenever Congress seems to finally summon the gumption to allow the tiniest bit of government spending to fall away, it seems like they almost immediately move to temper it? Starting this October, insurance rates on homes and businesses in flood zones that have been repeatedly and severely flooded are going to start going up by 25 percent a year until they reflected the “true risk” of the area, while subsidized rates would begin to lapse when homes were sold or flooded repeatedly. The reforms were passed on a bipartisan basis, and reflected the simple reality that, if you cannot afford the risk of rebuilding or repairing your home that comes with living in a flood zone, maybe… don’t live in a flood zone."

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