GOP senator's objection blocks vote on bill to delay flood insurance increases

Sen. Mary Landrieu, D-La., joined by other backers of legislation to delay large flood insurance premium increases, vows another effort to pass the bill after Republican senator objected Wednesday to a quick vote. (Bruce Alpert, NOLA.com | Times-Picayune)

By Bruce Alpert, NOLA.com | Times-Picayune 

WASHINGTON -- An effort to get a quick Senate vote on legislation to delay flood insurancepremium increases for four years failed Wednesday when a Republican senator objected.

Sen. Pat Roberts, R-Kan., said the bill needed more evaluation from the Senate Banking Committee before getting a vote. Roberts said he raised his objections on behalf of Sen. Mike Crapo, R-Idaho, the ranking Republican on the Senate Banking Committee.

The legislation was brought up under a process that requires unanimous consent.

Sen. Mary Landrieu, D-La., had urged quick action, saying that hundreds of thousands of homeowners are facing unaffordable increases in premiums as a result of the 2012 Biggert-Waters legislation. She said a Senate Banking Committee subcommittee has already held a hearing on the issue and the need to act quickly is "urgent." 

Landrieu vowed to continue efforts to pass the bill. 

"I am very frustrated that Senator Crapo is standing in the way of 5.5 million policyholders across the country, including 500,000 in Louisiana, that are waiting for a solution to skyrocketing flood insurance rates," Landrieu said. "The Homeowner Flood Insurance Affordability Act is the solution we need, and will delay the most dangerous rate increases under Biggert-Waters. Our growing coalition of bipartisan, bicameral members of Congress from across the country, business groups and local leaders understand the importance of this legislation, and we will do everything we can to pass it."

Landrieu said she's "prepared to come to the floor every day until we get a vote on this critical bill, and I'm confident it would pass."

Meanwhile, a House bill, offered by Rep. Bill Cassidy, R-Baton Rouge, which would delay some of the premium increases until March 2015, is likely to get a vote later this week.

But senators supporting the four-year delay said a more comprehensive approach to premium relief than that provided for in the House bill is needed. A four-year delay would give FEMA time to complete an affordability study that would show that some of the premium increases contemplated by FEMA -- double, triple and even 10 times current rates -- are not sustainable.

Cassidy called the House bill the first of several steps. It's probably as much as he could get given statements from the Republican chairman of the House Financial Services Committee that the Biggert-Waters law should be given a chance to carry out its mandate to make the program more fiscally sound.

"We need to keep working to get the law delayed and ultimately overturned," said Rep. Steve Scalise, R-Jefferson. "Right now there's not enough consensus for a long-term fix."

Rep. Cedric Richmond, D-New Orleans, said the new House bill doesn't go nearly far enough. "This latest proposal only delays changes to existing grandfathering rules for approximately six months; that's not nearly enough," Richmond said. "We need to pass a bill that brings real relief to homeowners to begin the process of stabilizing real estate markets nationwide."

Sen. Bill Nelson, D-Fla., said that one Florida couple has reported that FEMA is saying their new premiums will eventually jump from $4,000 to $40,000. As a result, he said, the homeowners can't afford the premiums, but also will never be able to find a buyer for their home.

Landrieu said those kind of increases are being reported in Louisiana, as well, with the potential to make many homes unsellable, raising a major risk to well-established Louisiana communities that depend on affordable home insurance.

"There is an urgency of now," said Sen. Robert Menendez, D-N.J., the bill's lead sponsor. Sen. Charles Schumer, D-N.Y., said the people in his state facing large increases in premium increases are mostly hard working middle class people who want to remain in their communities and might not be able to do so if FEMA carries out its current implementation of Biggert-Waters.

Landrieu said it would be a shame if the bill isn't getting a vote because some Republicans are angry about recent Senate Democratic rules changes that blocked filibusters on most judicial and other nominations from the president.

"This is as bipartisan as it gets in the United States Senate," said Sen. Ed Markey, D-Mass., noting the bill's seven Republican and 17 Democratic sponsors. The Senate should act now, he said.