Vote on Flood Insurance Sell-Out Today!
Last week the House of Representatives was scheduled to consider a flood insurance “reform” bill (HR 3370) that would have repealed some of the pro-taxpayer changes made to the program in 2011. The bill was withdrawn after enough Republicans objected to deny GOP leadership the votes to pass the bill. So House Majority Leader Eric Cantor “negotiated’” a new bill with Democrats that is actually worse than the first bill.
The new bill not only continues taxpayer subsidies for vacation homes, it caps flood insurance rates on these properties, thus exposing the taxpayers to more risk. The bill also creates a brand new flood insurance entitlement program for older, at-risk homes and new homes–some of which have not even been built yet!
The bill could be voted on as later this afternoon but Campaign for Liberty members who oppose this anti-taxpayer bill still have time to call their Representatives and ask they stand up for the taxpayer by opposing HR 3370.
UPDATE: The House passes HR 3370 last night by a vote of 306-91. Eighty-six Republicans and five Democrats voted no. Campaign for Liberty members can see how their Representative voted here.