House passes bill to renew flood insurance program

The House on Tuesday backed legislation that will increase flood insurance premiums for many property owners to help firm up a program under stress from ever-more frequent and powerful storms.

The bill’s passage was secured when sponsors made a variety of changes to accommodate lawmakers determined to protect constituents from even steeper rate hikes or from being booted out of the program altogether. The vote was 237-189.

Just last month, the insurance program needed a $16 billion bailout to continue paying claims from people hard hit by Hurricane Harvey. Critics said that demonstrated the need for a major overhaul as Congress considered a long-term extension.

Read Article at ABCNews

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