Mississippi Congressman Gets it Right on Flood Insurance

Rep. Steve Palazzo, R-Miss., addressed the House recently
addressing the plight of many Americans hit with
oppressive flood insurance rate increases.

By Mark E. Ruquet

While we on the East coast are battling to see Congress rollback disastrous flood insurance reforms, we can take heart that there are others elsewhere in the United States recognizing that this is a national crisis in the making and the ruinous rate increases need to be rolled back.

Last week, Rep. Steven Palazzo, R-Miss., addressed the House of Representative in a special order on the House floor to bring attention to the plight of millions of homeowners affected by these onerous rate increases.

Palazzo's observations echo what many of us are experiencing and strongly refutes critics who say the only people seeking this rollback are the rich.

“There are those who have said: these people are just a bunch of wealthy, waterfront homeowners," Palazzo told Congress. "That’s simply not true. I can tell you that is not the case in my district. I’m hearing from teachers, veterans, fishermen, people who work at the shipyards in support of our Navy."

We do not have shipyards here, but he is describing us, working class Americans--many of us laboring to make ends meet--and under threat of rate increases that if not rolled back will cause homeowners to file for bankruptcy or walk away from their homes.

The economy is just beginning to recover. It is a fragile recovery. Does anyone think that another serious disruption to the housing market won't drive this economy back into Recession?

Let's not let up and keep speaking out about the harm these ill advised increases of Biggert-Waters Act are doing to America's homeowners.

Take a listen to Rep. Palazzo's speech click here.