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MAR 13, 2014 - Yahoo! News

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Congress clears bill to ease flood insurance hikes

WASHINGTON (AP) — Less than two years after passing major legislation aimed at reforming the government's much-criticized flood insurance program, Congress on Thursday sent President Barack Obama a bill to scale back many of the resulting big flood insurance premium increases faced by hundreds of thousands of homeowners. The measure would also allow below-market insurance rates to be passed on to people buying homes with taxpayer-subsidized policies.

Tags: Congress clears bill to ease flood insurance hikes,  Barack Obama Latest News