SUCCESS: BIG DELAY IN FLOOD INSURANCE RATE PREMIUMS

A bipartisan effort to delay the implementation of big increases in flood insurance rates has been a success.  Lawmakers in Washington announced today a four year delay in increases in flood insurance premiums for millions of property owners in coastal regions of the United States.  The move is seen a key victory for coastal regions who expected to see homes for sale at lower prices once the higher flood insurance premiums kicked in.  The measure must be approved in both the House and the Senate, but passage is virtually guaranteed.