U.S. Sen. Marco Rubio is calling for a “more sensible way” to reform the National Flood Insurance Program. But he stopped short of supporting a a federal moratorium on the impending rate increase.
In a Sept. 26 letter to Gov. Rick Scott and CFO Jeff Atwater, Rubio wrote that he is committed to trying to “prevent the massive rate hikes and provide a long-term fix.”
At issue are subsidized flood insurance rate changes scheduled to take effect on Oct. 1 across the nation. Pinellas County has the greatest number of subsidized policies in the U.S., and properties in high-risk areas are expected to undergo sharp increases.
“I am increasingly concerned that the scheduled rate increases would have a devastating impact on Florida’s economy and housing market,” Rubio wrote.
The Republican U.S. Senator echoed concerns from state and local leaders. But he said that the proposals to delay the increases will not fix the problem. “I am concerned that some of those proposals do not offer long-term solutions…,” he wrote.
Rubio pledged to “continue working with my colleagues on solutions that work for Florida families, ensure affordability and preserve a path to solvency. We must find a better way and I welcome your feedback and assistance in the effort.”