Mick Mulvaney: Subsidizing Flood Insurance is Wrong
Should people living in low risk areas for flooding have to pay higher flood insurance premiums to subsidize the flood insurance of people in high risk areas?
Rep. Mick Mulvaney (R-SC) does not think so; nor do we, which is why we key voted against the Cassidy-Grimm-Palazzo Amendment to the Department of Homeland Security Appropriations act of 2013. Section 207 of the Biggert-Waters Flood Insurance Report Act of 2012 was designed to bring a level of fairness to the federal flood insurance program, and the Cassidy-Grimm-Palazzo Amendment would prevent this good reform from going into effect.
Rep. Mulvaney explained he wants to “bring reason and rational thought” to a government flood insurance program by saying people in riskier areas should pay more. “At the end of the day,” he said, “this program was designed to bring some sanity to this flood program, which is why so many people, myself included, voted for [the Biggert-Waters Flood Insurance Report Act of 2012] originally.”