The White House cites budgetary strain on the National Flood Insurance Program as one of its main concerns with the bill that aims to delay the climbing flood insurance rate hikes associated with the Biggert-Waters act by four more years.
"The Administration strongly supports a phased transition to actuarially sound flood insurance rates, as provided for by [Biggert-Waters]," the policy statement reads. "Delaying implementation of these reforms would further erode the financial position of the NFIP, which is already $24 billion in debt."
The White House also objects to the bill's method of screening National Association of Registered Agents and Brokers applicants with criminal history record checks.
Sen. Mary Landrieu, D-La., a vocal supporter of the Homeowner Flood Insurance Affordability Act, responded to the White House opposition with strong words. "I'm done listening to flimsy-limbsy arguments to this bill. People opposing this bill will have to go thru me & I’m not moving," she tweeted after urging her followers to call the White House.
The Obama administration's criticism of the Homeowner Flood Insurance Affordability Act joins a growing chorus of opposition to the bill that includes House Speaker John Boehner and some Senate Republicans.
The Senate will vote on the bill later this week.