Flood Insurance and Fed Subsidies

From an article on flood insurance: “FEMA has begun a study on the affordability of repealing the subsidies, and Senate Majority Leader Harry Reid said there will be a 2014 proposal to delay the rate hikes.

Congress is under pressure to enact rate relief after administrators of the National Flood Insurance Program began sending notices of policy increases to property owners.

The rate increases were mandated by a 2012 law intended to cut the flood-insurance fund’s $24 billion debt by charging premiums more closely reflecting the true risk. Proponents of the measure said that caused steep increases that middle-class homeowners can’t afford. “

Did you know that the Federal Government (you and me) help pay for someone’s flood insurance premium?
I didn’t know this. Another example of how the federal Government spends our money without the majority having a say.