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WWL>Topics>>3-5 8:45am Tommy talks to Rep. Bill Cassidy abt flood insurance

3-5 8:45am Tommy talks to Rep. Bill Cassidy abt flood insurance

Mar 5, 2014|

Tommy talks to U.S. Congressman Bill Cassidy about the passage of a flood insurance amendment in the House

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Automatically Generated Transcript (may not be 100% accurate)

Representative bill capacities can -- isn't a minute to talk about them an amendment that he proposed house bill about flood insurance. We've already had his opponent on the democratic side senator Mary Landrieu wanna talk about the senate version of this and just to be fair. Paul Hollis is also running for that senate seat as it is. And get the names here colonel rob Menendez from Madison bill and a libertarian candidate. Ran in McMorris of Denham springs under is trying to be fair and open and leave anybody out congressman Anthony morning Radio One. I am great I mean are you good generically congressman -- doctor. -- And 8% -- -- -- -- -- -- No -- -- -- well tell me what you accomplished you know what the Louisiana delegation accomplished yesterday in the house. And this -- -- amendments in the bill correct. Yet with a cap as you regret your cap to the amendment man there as a team in the war on it. Province and all this kind of drove the policy aspect of it. But we worked with problems but they're chasing. The last night the house approved legislation. Well. That will provide long term flood insurance relief. Now that consist of some more -- to -- -- Or 500000. People in Louisiana the gist is tremendous progress you mentioned earlier this senate bill. The Menendez and deal. And it is far superior to in the -- and I'm not be important. General -- now endorsed our bills and the post one which originally promoted. And you are gonna work together on this election and not to make sure that you the people Louisiana protect. Wide smile I told my office long ago good policy is good politics and we're here to take care of the people we -- on a first period. Our -- July -- period like the president I mean period. -- so let me ask you real quick doctor -- when it comes to. What it means what happened yesterday and what it means that people don't homes. In terms of increases in terms of did being able to sell a property what does that actually mean disease the world you know bills are very thick and indeed if you didn't depend distill it down for them. That was selling your property. The reason -- dozen camps over the senate bill the senate bill delayed. In the premium increases for years. But still when you so well the person buying the house -- for years now and make it skyrocketing premiums what we do as we permanently repeal what is called section two rose seven that the permanent. Not a temporary delay and what we say is that. What bridge built to code at the time you butcher well and you kept up to payments and you cannot repetitive which urged -- normal person. We use all the same -- other rate did you have pat them on to the home purchaser. Immediately -- restores. The value to the real estate market. Currently. People who. Were so -- someone who might think they were they 25000 a year -- insurance premiums. We restore certainty and in doing so restore -- the real estate market speaking to real terms homebuilders most importantly. Homeowners and buyers that would that was maybe the biggest thing able. And -- imagine net. -- the premium has similarly the insurance has to be kept -- and if you lose it does a property lizard or if you if you don't if you cancel or don't pay for gives Automask and in my arms went. Still it does is still an insurance product but we also did -- the premium increases were at the senate bill capita to 40%. -- cap -- 15%. And so that would be as gentle glide out and frankly my my homeowners is gonna give my children and Rex so we expect a certain amount of inflation. But we cap that it's 15%. So that people again on shocked by their premium increases -- a year -- -- -- homeowners a car insurance is going out educate parents. Yeah well why churches until I get to OK so so in other words and when I'm trying to get to see if it passes of people make a mistake if you wanna keep that. Asset if you will of grandfathered in flood insurance you better keep the premiums current and if you if it lapses and you don't have that benefit. Yeah it collapsed for your own fault and then you might go into higher risk pool but but under all. Collapsed because of the accord came -- -- that you didn't need flood insurance. And then for your blatantly told that you do. Under the current law eagle on to that skyrocketing pool. Police say its second -- the course that you didn't need it and now continued to and you want to award the grandfather great. So how likely is it to get through this senator or presume you've had some conversations what do you think the finished version is gonna look like. I'm. I think it's finished version will look exactly like it does now. That these cynical perhaps we've been working with the senate again -- news we have been good policy. But we also knew that we had to work. Between Democrats and Republicans in the house and senate. And so little mock if you will we've been doing just and you take. Into account simply concerned. We anticipate patent -- -- -- and signed into law by the president. It is one thing the entire Louisiana delegation is working on together correct. Judges that are represented -- slash doctor bill -- I appreciate your time.