Cassidy: Insurance crisis hurting Louisiana families

U.S. Sen. Bill Cassidy is demanding Congress take action to halt the massive hikes to the National Flood Insurance Program premiums caused by Risk Rating 2.0.

NFIP was created as a safety net for the most vulnerable Americans, Cassidy said, but due to the Federal Emergency Management Association's new risk assessment system — Risk Rating 2.0 — homeowners are experiencing unprecedented spikes in their insurance premiums, making them unaffordable.

"Hurricane season is underway and as we know, when hurricanes come so does the risk of flooding," Cassidy said. "When a Louisiana homeowner buys flood insurance I want them to know how much it will cost and if they can afford it."

Cassidy, R-La., said he shared stories Monday night on the Senate floor from constituents struggling to keep up with the premium hikes, highlighting how the insurance crisis is hurting Louisiana families.

"I went to the Senate floor to kind of channel Louisiana voices, highlighting the real impact of FEMA's Risk Rating 2.20," he said. "One story I highlighted was from a retired couple in Bayou Lafourche who had to drop their flood insurance all together after learning their premium was rising from $500 to $2,500 annually. That is the kind of story you hear over and over in our state."

Cassidy said he will continue to push legislation to make Risk Rating 2.0 transparent and to make flood insurance affordable again.

Student loans, FAFSA

Cassidy said the Biden administration has "repeatedly failed" to implement the Free Application for Federal Student Aid program, which "is creating havoc for students wanting to know if they can afford college."

"Why is this important? This is a form a student has to fill out for the school to tell them how much financial aid they can offer," Cassidy said. "Earlier this year, on my request, the government accounting office launched an investigation into the Department of Education's botched rollout of FAFSA."

Under federal law the department is required to comply with the U.S. Government Accountability Office oversight, providing all documents related to the investigation.

"The GOA has informed my office that the Department of Education has repeatedly obstructed the investigation, has failed to turn over the requested documents in violation of federal law," Cassidy said. "This is unacceptable. The Biden administration is illegally hiding evidence of mistakes from Congress, which is the elected representatives of the American people."

He said the Biden administration is impeding oversight to cover up failures.

"I sent a letter to the Department of Education demanding the comply with the investigation and federal law by turning over all relevant documents by this Friday, June 7," he said. "The Biden administration must be held accountable for failing students, families, colleges and universities.

Infrastructure

Last week, the Coushatta Tribe received more than $1.3 million for the construction of CC Bel Road from the Infrastructure Investment and Jobs Act. Cassidy said the construction will help improve road safety and benefit all of Southwest Louisiana.

"This new funding builds upon the over $11.4 million the Coushatta Tribe has received to upgrade and extend approximately 2.5 miles of CC Bel Road." he said.

This funding supports constructing a realignment CC Bel Road at the S-curve to address safety and roadway departure concerns resulting from narrow road width, steep drainage ditches, inadequate signing, and no striping.

"By addressing road safety, we are creating a better environment for families who rely on them."