In the long-running debate over housing subsidies, experts tend to focus on the mortgage interest deduction, a $70 billion tax break that functions as an expensive subsidy for wealthy Americans. But there are lesser-known government programs that also have the same problem—and are ripe for reform. We don’t think of them this way but one of them is flood insurance.
Topics: national flood insurance program nfip department housing urban development september louisiana florida congressional budget office university massachusetts martha s vineyard fairhaven federal emergency management agency cbo one john stossel abc fox news york hurricane katrina hurricane sandy fema-designated special flood hazard areas southeast atlantic coast senators house ike brannon cato institute ari blask cato s center monetary financial alternatives columbia law school american americans nfip in congress nfip s southeast fema homeowners government market private risk property cost percent reforms properties homes charge average premiums reform zone tend subsidies million study billion money full flood-prone relationship pay costs constituents built expected cover don reflect states wealthier premium live wealthy subsidized expensive policies recipients general good annually median coverage receive disaster real policyholders
BING NEWS:
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According to government data, homelessness in the U.S. increased 12 percent in 2023 compared to 2022. But one group has seen significant improvement over the last 15 years: veterans. Much of that can ...
09/14/2024 - 10:45 am | View Link - Why Japan is one of the only countries that isn't fed up with housing costs
Some experts have pointed to Japan, where housing costs are lower than peer countries, as a potential model for solutions the US could adopt.
09/13/2024 - 11:08 pm | View Link - $84bn lost to housing tax lurks? That would go a long way towards ending the housing crisis
Limiting or scrapping negative gearing and the capital gains tax discount would help take the heat out of the market and give the government much more money to invest in social housing.
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09/12/2024 - 3:20 am | View Link - Solutions to our nation’s housing crisis must come from the federal government
Our nation has a housing crisis that only our federal government can solve -- Minnesota and other states can't do it ...
09/12/2024 - 3:04 am | View Link - More
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