Senate GOP blocks flood insurance fix

A group of Democratic senators asked for unanimous consent Wednesday to vote on a bill aimed at delaying flood insurance rate increases.

Sen. Bill Menendez (D-N.J.), the lead sponsor of S. 1610, asked for two hours of debate and a 60-vote threshold for final passage, but Sen. Pat Roberts (R-Kan.) objected, saying the bill should go through the committee process first so that more GOP lawmakers could contribute to the bill.

{mosads}“This bill has not been through the committee process,” Roberts said. “We must ensure that all members have opportunity to weigh in.”

There are 23 co-sponsors of the bill, including seven Republicans. Sen. Johnny Isakson (R-Ga.) is the other lead co-sponsor.

Menendez said his bill would simply delay the rate increase until an affordability study is completed. Some homeowners’ rates have increased so much that Menendez said it’s a “de facto eviction notice.”

“Some of these increases will act as a de facto eviction notice,” Menendez said. “We should be incentivizing people to buy into flood insurance, not pricing them out.”

The new rates go into effect at the beginning of next year, so lawmakers have little time to make the fix since the House leaves for the rest of the year on Friday and the Senate will leave after next week.

Menendez was joined by Democratic Sens. Mary Landrieu (La.), Heidi Heitkamp (N.D.), Chuck Schumer (N.Y.), Elizabeth Warren (Mass.) and Ed Markey (Mass.).