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Reps Pallone, Pascrell Applaud Affordability Provisions in Draft National Flood Insurance Reauthorization

Reps. Pallone, Pascrell Applaud Affordability Provisions in Draft National Flood Insurance Reauthorization Targeted News Service April 9, 2021 with Rep. Bill Pascrell, D- Bill Pascrell (NJ-09) today issued the following statement on Chairwoman Maxine Waters s draft National Flood Insurance Program reauthorization. The proposal adopts the same cap on premium rate increases that Pallone and Pascrell included in their bipartisan flood insurance legislation last Congress. When it comes to our nation s flood insurance policies, no one has worked harder than our friend and colleague Chairwoman Maxine Waters. We are deeply grateful that she incorporated a major component of our bill to include the nine percent cap on premium rate increases, marking a significant step toward our shared goal of an affordable and stable National Flood Insurance Program.

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