Cassidy Flood Insurance Provisions Includes in Omnibus Spending Bill

Press Release

Today, Congressman Bill Cassidy, M.D. praised House and Senate negotiators for including the Cassidy Amendment in the FY14 Omnibus Spending bill, which funds the federal government through the remainder of Fiscal Year 2014.

The amendment blocks flood insurance increases triggered by revisions to FEMA's Flood Insurance Rate Maps, commonly referred to as Section 207 of the Biggert-Waters Flood Insurance Reform Act. Over 280 House members voted for the Amendment on June 6, 2013, and over 70 House members advocated for inclusion of the Cassidy Amendment in the Omnibus spending bill in a letter which can be read here. Dr. Cassidy released the following statement:

"I am glad to see appropriators included this short-term relief, which received overwhelming bi-partisan support, in the spending bill that finishes the appropriations process for 2014. I will again advocate for this relief in every relevant spending bill every year until permanent and equitable relief is brought to the homeowner.

"As I said time and time again, the Cassidy Amendment was step one in a multi-step process providing relief to homeowners. We need to help those affected by map changes, but we also have to help those who cannot sell their homes and those who followed all the rules and codes when building their home."

Some of the reforms contained in the Biggert-Waters Flood Insurance Reform Act have the effect of eroding home values and destroying real estate markets across the country. The Senate is on the verge of passing the Menendez-Isakson bill, providing a four-year delay of rate hikes. Congressman Cassidy supports this bill and is an original co-sponsor of the House version. He is pushing for a vote on relief measures that shield homeowners and businesses from catastrophic rate increases.

Additionally, Congressman Cassidy believes that we must treat the root cause of unaffordable flood insurance and provide systemic relief for all Louisianans. He thinks Congress must act now and provide consumers and communities with better choices, better options and a long-term solution that can actually help permanently lower premiums. Finally, he believes we must provide an affordable and marketable flood insurance product that helps people keep and stay in their homes.

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