Photo: Getty Images
Sen. Bill Cassidy is moving against changes to the National Flood Insurance Program that are sharply driving up the premiums.
FEMA's new pricing methodology, called Risk Rating 2.0, is increasing the premiums in the low-to-moderate risk X-Flood Zones.
Realtors say the subsidized rates are going from about $500 a year up to as high as $6,000 a year.
Cassidy says the high rates will cause hundreds of thousands of people nationwide to drop their flood coverage. He hopes to delay the changes by attaching an amendment to a bigger bill on Capitol Hill.
Copyright © 2021 TTWN Media Networks Inc.