A proposal delaying flood insurance rate hikes for four years has bipartisan support and is expected to be presented today by a bipartisan group of U.S. Senators.
Last year, with the passage of the Biggert-Waters Act, 1.1 million homeowners were anticipating higher premiums. According to some reports, new flood maps, particularly in the South, could have raised premiums from a few hundred dollars a year to more than $20,000 annually.
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