Rep. Gottheimer Statement on HR 2874: Crippling New Jersey Homeowners

“I couldn’t support the the “21st Century Flood Reform Act” for two simple reasons: It is a bad deal for New Jersey and hikes fees on Garden State homeowners. Much like the House tax hike bill, this plan cripples the 200,000 homeowners in New Jersey that rely on the flood insurance program after Superstorm Sandy and to protect their families during future storms.

Towns in the Fifth District, like West Milford and Lodi, are flood prone and they need common sense reforms and not another new tax on coverage. Homeowners in New Jersey can’t take this hit plus the House tax hike bill’s attacks on the the mortgage interest deduction and SALT. New Jersey’s families, housing market and regional economy deserve better.”