Donalds and Scott Propose Tax Breaks Amid Flood Insurance Hikes

Donalds and Scott Propose Tax Breaks Amid Flood Insurance Hikes

Some US politicians are taking action to assist families who are facing higher flood insurance costs.

For weeks, WINK News has told you that FEMA is threatening to withdraw the 25% flood insurance discount.

When it happened, U.S. Representative Byron Donalds stated that he will speak with FEMA directly. Donalds and Senator Rick Scott are introducing legislation that would provide a tax break to those who purchase flood insurance. Congressman Donalds told WINK News that his contacts with FEMA have received very little reaction.

He cannot personally ensure that the discount remains in place, but he may propose legislation that may provide some relief. Neighbors are stressed about the high cost of insurance, and several are considering moving.

“We’re both retired now. “We have a limited income,” Bob Joanne explained. “One block over is for sale. The house next to us just sold. “That house is for sale,” Tyler added. “Financially, we don’t have a choice.”

Donalds stated that he hears you, even though he has not heard from FEMA.

“When we try to get an understanding of especially risk rating 2.0, with FEMA, frankly, we’ve been met with not much of a response at all,” Mr. Donalds said.

Congress has a few options at its disposal, including House Resolution 8102. The resolution is partly in response to the possibility that Southwest Floridians would lose their flood insurance savings. It won’t bring them back, but Donald promised a tax break for those who have flood insurance.

“What we want to do is try to aid the residents here. Citizens across the country are experiencing the effects of rising insurance premiums,” said Donalds.

Senator Scott introduced it to the Senate. The proposed resolution would cover both government flood insurance systems and private insurance policyholders.

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