Congress sends Obama bipartisan bill to ease flood insurance hikes

  • by: ANDREW TAYLOR , Associated Press
  • Updated: March 13, 2014 - 6:00 PM

WASHINGTON — Less than two years after passing major legislation aimed at reforming the government's much-criticized flood insurance program, Congress on Thursday sent President Barack Obama a bill to scale back many of the resulting big flood insurance premium increases faced by hundreds of thousands of homeowners. The measure would also allow below-market insurance rates to be passed on to people buying homes with taxpayer-subsidized policies.

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