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To block large flood insurance premium hikes, political pressure is turning the tide

February 18, 2014

WASHINGTON — After resisting calls to delay or pull back the 2012 Biggert-Waters law’s flood insurance premium increases, House Majority Leader Eric Cantor announced last week that the House will act next week on legislation to keep rates “affordable.” Details won’t be released until later this week, and some, including Sen. Mary Landrieu of Louisiana, says it’s important to “look under the hood” to make sure the new bill actually does what Cantor says it will. Still, there’s no denying the House GOP leadership has moved a long way from its previous position.