The House is expected to vote this week, possibly as early as today, on a Republican-sponsored flood insurance bill that seeks to reverse steep increases in premiums.
Although the Homeowner Flood Insurance Affordability Act reportedly is still being negotiated by GOP and Democratic leaders, Congressman Steve Scalise says he's confident a compromise can be worked out.
"We're confident we're gonna have a bill this week that will solve this problem and pass it out of the House and ultimately get a bill that can go to this President to be signed into law," Scalise tells 99.5FM.
The bill also would allow the transfer of lower, subsidized flood insurance rates from the seller to the purchaser of a home.
"And even if you sell a home, the flood insurance policy would transfer with that home, which has been one of the big problems. Right now, there is a chill in the housing market because of the threat of these looming increases that are unrealistic in flood insurance," Scalise said.