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Patriot Ledger: Senate OKs delay of big flood insurance premium hikes

Massachusetts Sens. Ed Markey and Elizabeth Warren were among the 67 senators who voted to postpone parts of the Biggert-Waters Flood Insurance Reform Act, which is hitting homeowners with massive premium hikes.

Legislation to delay an overhaul of the federal flood insurance program took a major leap forward Thursday when it passed the U.S. Senate on a 67-32 vote.
Massachusetts Sens. Ed Markey and Elizabeth Warren were among the 67 senators who voted to postpone parts of the Biggert-Waters Flood Insurance Reform Act of 2012 for four years. The act is hitting homeowners with massive premium hikes.

“I have met with and heard the fear and frustration of homeowners and businesses in Massachusetts impacted by new flood insurance policies – in Marshfield, Gloucester, Quincy, Newburyport, and Scituate,” Markey said in a statement Thursday. “This bill will help them and all those across the country … by ensuring that we have addressed the affordability of flood insurance before any crippling rate increases go into effect.”