This quote from Roll Call should sooth the long suffering GOP moderates who want nothing than to reach across the aisle, warmly embrace the men of good will with whom they occasionally differ, and do the job they were sent to Washington to do.
Majority Leader Eric Cantor, R-Va., told his conference in a private meeting that he will work with Democrats in order to advance the measure. “We are moving it to next week to work on a few remaining technical issues,” he said, according to source in the room.
And what does the Majority Leader mean when he says "work with Democrats"? What he means is he will do as Nancy Pelosi did to pass Obamacare which is to bypass the committee process. Instead of working with House Financial Services Committee Chairman Jeb Hensarling who opposed the raid on the Treasury Cantor negotiated with the ranking minority member Maxine Waters. The bill passed 306-91. A total of 180 Democrats joined 126 Republicans in supporting the bill but 12 of the 21 House committee chairmen voted no. They did not like the process and now probably don't much like Cantor either.
Aside from providing one more reason why Eric Cantor, along with the rest of the leadership, should be bounced out on his ass the bill slows the rate of premium increases for federal flood insurance. In a temporary sally toward sanity in 2012 the House and Senate passed the Biggert-Waters Flood Insurance Reform Act that mandated sharp increases in premiums until they reflected the actuarial risk. The federal insurance program is $24 billion in the red still Cantor and Waters thought it prudent to punish the taxpayers rather than coastal property owners.
“One of the reasons America is going broke is because of poorly designed and government-run insurance programs,” Hensarling said on the House floor. “The program forces 96 percent of all Americans to subsidize the remaining 4 percent regardless of income or need.”
Let's hope that after the fall elections Republicans have the good sense to replace their leadership. Electing Hensarling as Speaker would be a good start.