[Congressional Record (Bound Edition), Volume 160 (2014), Part 2]
[House]
[Page 2531]
[From the U.S. Government Publishing Office, www.gpo.gov]




                         FLOOD INSURANCE RATES

  (Mr. KILMER asked and was given permission to address the House for 1 
minute.)
  Mr. KILMER. Madam Speaker, I rise today to call on the House of 
Representatives to take action to prevent enormous flood insurance rate 
hikes from going into effect for homeowners all across this country. 
This is about the basic principle of housing affordability.
  Recently, I met with Realtors, homeowners, insurance agents, and 
mortgage brokers in my neck of the woods. They shared with me just how 
dramatic the impact has already been in our region.
  One perspective home buyer in Grays Harbor County was shocked to find 
that their flood insurance quote came out to a whopping $13,000 per 
year. After paying $600 to show that the property was elevated, the 
insurance quote was still more than the monthly mortgage payment would 
have been, and the deal fell through.
  This policy has already led to a rapid and substantial decline in 
property values in a part of my district that already struggles with 
double-digit unemployment and can't afford another round of 
congressional disfunction.
  Madam Speaker, the Senate has already acted. Let's do the same and 
immediately take up the Homeowner Flood Insurance Affordability Act.

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