The Biggert Waters Act brought extensive changes to the way that the National Flood Insurance Program worked, especially in the ways that premiums are calculated. There’s now a bill on the table that will repeal the law. Read on to learn some of the reasons why Democrats want the Biggert Waters Act repealed:
15. It’s drastically increasing people’s flood insurance
Under the law, premiums on current policies can be increased by 25% a year until they reach the full-risk rate.