Saturday, November 23, 2013

Few Support Delaying Changes in Flood Insurance - ABC News

Seems like the higher flood insurance rates are likely to go into effect after all. Will this help push redevelopment and investment towards the east coast in Florida? Click title for link. Here is some of what the article says:
The changes in the program are most acutely felt in places like the Gulf Coast, the New Jersey shore and Florida.
Some conservative Republicans are adopting a "tough-love" approach to implementing the law.
"The fundamental question posed by the flood insurance reform bill is one of fairness. Is it fair for everyone to subsidize the insurance of a few?" asked Rep. Lynn Westmoreland, R-Ga. "The answer is simple. Taxpayers should not continue to subsidize the flood insurance of those who live in flood-prone areas. It's not fair."