{"database": "press", "table": "releases", "rows": [["https://www.cochran.senate.gov/public/index.cfm/news-releases?ContentRecord_id=d39bbccb-238d-486c-ac3f-8af7b438ba7e", "COCHRAN:  FLOOD INSURANCE RATE HIKES COULD UNDERMINE POSITIVE REFORMS", "2013-11-19", "2013", "2013-11", "Republican", "House", "MS", "Thad Cochran", "C000567", "www.cochran.senate.gov", null, null, "legacy", "Audio of Cochran remarks available below. \n\t\n\t\n\t\t\n\t\t\u00a0WASHINGTON, D.C. \u2013 U.S. Senator Thad Cochran (R-Miss.) today helped build support for Senate passage of legislation intended to ensure that National Flood Insurance Program reforms enacted last year do not undermine the overall program.\r\nCochran on Tuesday joined six other Senators, including Senator Roger Wicker (R-Miss.) and Mary Landrieu (D-La.), to discuss problems arising from implementation of the Biggert-Waters Flood Insurance Reform Act of 2012, including \u201cskyrocketing flood insurance premiums\u201d being levied on homeowners and businesses around the country.\r\n\u201cThe reform legislation enacted in 2012 made positive changes to the program.\u00a0 Today, some of those changes are now working in opposition to the broader goals of reform, hence the importance of this legislation.\u00a0 These shortcomings existed in the law, and they actually threaten to weaken the flood insurance program,\u201d Cochran said.  \u00a0  Cochran, an original cosponsor of the Homeowner Flood Insurance Affordability Act (S.1610), took part in a dialogue on the Senate floor to advocate for consideration of that legislation.\u00a0 Provisions from S.1610 have been offered as an amendment the National Defense Authorization Act (S.1197) now being considered by the Senate.\r\n\u201cBefore allowing unaffordable flood insurance rates to devalue private property and harm local communities and economies, we should be absolutely sure the government\u2019s engineering practices and procedures are as sound as possible.\u00a0 It will be very difficult to rebuild communities or restore home equity once they are lost.\u00a0 So, we had better get it right,\u201d Cochran told his colleagues.\r\n\u201cOur bill does not create new programs to address rising premiums.\u00a0 It simply leaves in place some current practices so that we can make sure that the productive reforms we enacted last year will actually improve the credibility of the program among communities and homeowners.\u00a0 Our bill would not affect positive reforms related to expanding program participation, or the phase-out of subsidized flood insurance premiums for vacation homes and homes that have a history of repeated flooding,\u201d he said.\r\nS.1610 would require FEMA to certify that it has implemented a flood mapping approach that relies on sound scientific and engineering methodologies to determine varying levels of flood risk in all areas with NFIP participation.\u00a0 FEMA must also propose a draft affordability framework for congressional review.\u00a0 The bill sets a 24-month deadline for FEMA to take these actions and could delay rate hikes until affordability regulations authorized by Congress are finalized.\u00a0 (Bill summary: http://1.usa.gov/1gan2xU)\r\nSupporters of S.1610 and the House companion measure (HR.3370) advocate passage of this legislation this year, either as a stand-alone measure or part of another bill expected to clear Congress this year.\r\nThe following are Cochran\u2019s remarks to the Senate today:\r\nIt is a fact that the Homeowner Flood Insurance Affordability Act, which we\u2019re discussing, seeks to protect homeowners from increases in the cost of flood insurance premiums until the Administration reviews and reports to Congress on the flood mapping technologies, methodologies, and insurance affordability that are being issued under existing law.\u00a0\r\nOne problem that we\u2019re concerned about is that the program was supposed to protect taxpayer investments, communicate perceived flood risk to homeowners, and encourage communities to protect themselves against flood risks.\u00a0 The reform legislation enacted in 2012 made positive changes to the program.\u00a0 Today, some of those changes are now working in opposition to the broader goals of reform, hence the importance of this legislation.\u00a0 These shortcomings existed in the law, and they actually threaten to weaken the flood insurance program.\r\nThe success of flood insurance is so important to many inland and coastal states, such as mine and Louisiana, where the distinguished Senator is from.\u00a0 Communities there continue to work to overcome damages caused by the greatest natural disaster in our nation\u2019s history, the effects of the Deepwater Horizon oil spill in 2010, and now skyrocketing flood insurance premiums.\r\nUnder the Homeowner Flood Insurance Affordability Act, the Administration would be required to provide assurances to Congress that it is using sound mapping methods to make flood insurance rate determinations.\u00a0 A study by the National Academies of Science produced in March of this year has called into question some of the engineering practices the government uses to determine rates.\u00a0\r\nBefore allowing unaffordable flood insurance rates to devalue private property and harm local communities and economies, we should be absolutely sure the government\u2019s engineering practices and procedures are as sound as possible.\u00a0 It will be very difficult to rebuild communities or restore home equity once they are lost.\u00a0 So, we had better get it right.\r\nOur bill does not create new programs to address rising premiums.\u00a0 It simply leaves in place some current practices so that we can make sure that the productive reforms we enacted last year will actually improve the credibility of the program among communities and homeowners.\u00a0 Our bill would not affect positive reforms related to expanding program participation, or the phase-out of subsidized flood insurance premiums for vacation homes and homes that have a history of repeated flooding.\r\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.cochran.senate.gov/public/index.cfm/news-releases?ContentRecord_id=d39bbccb-238d-486c-ac3f-8af7b438ba7e"], "units": {}, "query_ms": 1.1573571246117353, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}