U.S. Senator Mary Landrieu fears there may be no fix for what she says is flawed flood insurance reform law before the year's end.
The Biggerts-Waters Flood Insurance Reform Act will mean huge premium hikes for many residents in Louisiana and other states. Landrieu says there is a widely supported Senate bill, but it's hung up waiting on a procedural vote to debate it.
Under Senate rules, such procedural votes must be unanimous. Landrieu says they could have the bill passed and sent to the House before the Holidays, but for one senator, Republican Mike Crapo of Idaho, who keeps voting "no".
If the Biggert-Waters flood insurance rate hikes aren't stopped or at least delayed, some homeowners could find themselves unable to afford flood insurance and find their home financing in jeopardy.
Landrieu says she and Senator David Vitter are doing all they can to get the bill passed this week.