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  "A small percentage of homeowners are learning that they may be subjected to flood insurance rates that are 10, 100, and in some cases, more than 1,000 times higher than their current subsidized rates. These rates, which are upwards of $28,000 per year, are unaffordable and could have devastating impacts on these homeowners and their communities if they are implemented." — U.S. Rep. Maxine Waters, D-Calif., one of the lead authors of the locally dreaded Biggert-Waters Act of 2012, which will trigger huge increases in local flood insurance rates, in a letter to FEMA asking the agency to delay the impending rate hikes. Waters' letter was co-signed by more than two dozen U.S. House members, including Louisiana Reps. Cedric Richmond, D-New Orleans; Steve Scalise, R-Jefferson; Rodney Alexander, R-Quitman; Charles Boustany, R-Lafayette; and Bill Cassidy, R-Baton Rouge.

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