N.J. Democrats and Republicans blast Trump plan for flood-insurance hikes
Lawmakers from both sides of the aisle on Tuesday decried a proposal to sharply raise premiums on federal flood-insurance policies -- vital to the Jersey Shore -- as part of an effort to save nearly
The planned cut, light on details, touches a particularly sore spot for New Jerseyans, who have complained of struggles to get compensation from the flood-insurance program ever since swaths of the state were battered by Hurricane Sandy.
Under Trump's plan, many could pay more for that insurance.
His proposal calls for "targeted premium increases" on people who have subsidized insurance and surcharges across the National Flood Insurance Program, to "make the program fiscally sustainable over time and begin paying down the NFIP's debt," budget documents said.
Sen.
And Rep.
"I don't know where the administration envisions cutting that much," MacArthur told reporters. "It certainly is not in the flood bill that I've been working on here in the House."
Rep.
The administration's plan also calls for eliminating the
The budget documents do not spell out the details of the planned premium hikes or surcharges, and
About 20 percent of federal flood-insurance policies are subsidized to keep costs down, and the program has fallen
Conservatives worry about that debt and chafe at the subsidies, which they argue force people who don't use the program to help cover the cost of those who own homes in flood-prone areas. They are pushing to overhaul the program, including raising premiums, before its authorization expires
The Trump budget documents say the administration hopes to begin paying down its debt "while leveling the playing field" for private insurers to compete.
"By demonstrating to homeowners the true cost of living in a flood plain, the proposal would also incentivize mitigation of flood risk before disasters occur," the documents say.
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