Congress last week gave some Florida homeowners temporary relief from massive increases in the cost of flood insurance. Congress now should give longer-term relief to all homeowners.
The spending bill that will fund the government through Sept. 30 contains a provision to delay for nine months rate increases for those in older homes — generally, those built before 1975. Subsidized rates for those properties had been maintained for decades until 2012, when Congress passed the Biggert-Waters Flood Insurance Reform and Modernization Act. Approved with the intent of making the National Flood Insurance Program sounder, the change led to jolting increases for many Floridians starting Oct. 1.
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