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Boehner: House Won’t Repeal Flood Insurance Hikes

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Speaker of the House John Boehner. (credit: Win McNamee/Getty Images)

Speaker of the House John Boehner. (credit: Win McNamee/Getty Images)

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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 This material may not be published, broadcast, rewritten or redistributed.)

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