Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, released the following statement on the progress of negotiations with GOP leader Eric Cantor regarding legislation to address rising flood insurance premiums.

"We have made important progress on legislation that will provide relief to those facing unaffordable flood insurance premiums. I continue to work with Leader Cantor to finalize the details of this important bill.

We are taking this matter very seriously, and we are working in good faith to ensure this bill provides a comprehensive solution that will make flood insurance affordable for the hundreds of thousands of families who have been suffering. I am hopeful that we can reach agreement on this legislation by next week."

For months, Waters has let the effort to provide homeowners relief from skyrocketing flood insurance premiums. She has spearheaded bipartisan, bicameral legislation that has garnered more than 235 cosponsors – a majority of members of the House of Representatives.

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