Congress Passes Bill Capping Flood Insurance Premiums

Thursday the United States Senate passed a bill that will limit the increase people will pay for federal flood insurance.

The House already passed the bill last week.

The Homeowners Flood Insurance Affordability Act also required FEMA to have accurate and up-to-date flood maps as well as clear explanations on flood risks.

The bill counters huge increases in flood insurance brought by the Bigger-Waters act and now goes to President Obama for his signature.