Boehner: House won't repeal flood insurance hikes

Associated Press + More

By ANDREW TAYLOR, Associated Press

WASHINGTON (AP) — Speaker John Boehner says the GOP-controlled House won't take up legislation aimed at neutering a 2012 overhaul of the federal flood insurance program that is hitting homeowners who have long paid below-market rates with big premium hikes.

The Ohio Republican said "we're not going to do that" when the topic was broached in a hallway exchange with The Associated Press in the Capitol complex.

The bipartisan 2012 overhaul of the much-criticized flood insurance program is requiring owners of vacation homes, frequently-flooded properties, and businesses to lose their subsidized rates over time. Other homeowners can keep their subsidies but can't pass them on when selling their houses, which has caused a disruption in home sales.

The Senate will shortly take up legislation to delay major elements of the 2012 law.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.