Federal spending bill will delay planned hikes in flood insurance premiums

WASHINGTON – An $1.1 trillion omnibus spending bill expected to be approved by Congress this week will delay hikes in flood insurance premiums, U.S. Rep. Vern Buchanan said Tuesday.

Buchanan, the sponsor of a separate measure to delay the hikes, said in a news release the spending bill bars the Federal Emergency Management Agency from using its 2014 discretionary funding to implement the higher insurance premiums for existing policyholders who, due to remapping, find themselves below elevation and facing increased premiums.

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