Lawmakers look into rising insurance costs
WASHINGTON (NEXSTAR) – With natural disasters striking communities across the country, lawmakers are examining the rapidly rising cost of insurance and whether sweeping changes are needed to protect homeowners from financial devastation.
Jessica Pyska, County of Lake, California Supervisor, shared her experience with lawmakers.
'The Valley Fire burned 76,000 acres, nearly 2,000 structures, and claimed four lives,' she said. 'I lost my home and most of my community that day.'
While federal grants and incentive programs have helped communities rebuild, Pyska said the skyrocketing cost of insurance remains a major burden.
'Despite these investments, we continue to be crushed by the insurance crisis plaguing our nation,' she said.
The Senate is now reviewing both home and flood insurance costs. Sen. Elizabeth Warren (D-Mass.) called the situation a bipartisan issue.
'Housing is already too expensive for many Americans, and even if families can afford to buy a home, they then get stuck with whopping insurance bills,' Warren said.
According to the Treasury Department, as of January 2025, premiums in climate-vulnerable areas were 82% higher than those in the least risky regions.
'Average home insurance rates across the nation have increased by double digits 23% overall,' Warren said.
Still, Sen. Tim Scott (R-S.C.) said overly complex regulations are creating barriers for insurers to operate in certain states.
'We must be honest about the multiple factors driving the rise in catastrophic losses from local mitigation and policy failures to market distortions created by counterproductive regulations,' Scott said.
Robert Gordon, a American Property Casualty Insurance Association Senior VP, warned insurers will pull back from markets they find unprofitable.
'They're not going to keep putting in new money into states where they're not able to increase their capital, and they haven't been profitable enough to attract new capital,' Gordon said.
Lawmakers from both parties agreed the system needs reform to ensure affordability and access, but how and when those changes will happen remains uncertain.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Hamilton Spectator
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- Hamilton Spectator
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Trump so far has shrugged off concerns about the parade cost, the rainy forecast and the potential for protests. 'What a day it will be!!!' Trump wrote on his social media site, adding later that he hoped the weather would cooperate but that if it doesn't, 'that brings you good luck. That's OK too. Doesn't matter. Doesn't affect the tanks at all. Doesn't affect the soldiers. They're used to it. They're tough. Smart.' As for the protests, he warned that 'they will be met with very big force.' The 'No Kings' rallies planned in hundreds of cities nationwide are meant to counter what organizers say are Trump's plans to feed his ego on his 79th birthday and Flag Day. No protests are scheduled to take place in Washington, D.C., however, and officials have said they so far have no indication of any security threat. 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It will include a total of 6,169 soldiers and 128 Army tanks, armored personnel carriers and artillery, while 62 aircraft fly overhead. At the end of the parade, Trump will swear in 250 new or reenlisting troops, and the Army's Golden Knights parachute team will jump onto the Mall. That will be followed by the concert and fireworks. ____ Associated Press writers Michelle L. Price and Tara Copp contributed to this report. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
an hour ago
The Army is set to celebrate 250 years with a parade that coincides with Trump's birthday
WASHINGTON -- The massive military parade that President Donald Trump has long wanted is set to step off from the Lincoln Memorial on Saturday evening, with tanks, bands and thousands of troops. And the biggest question marks are whether it will be overshadowed or delayed by either the weather in Washington or planned protests elsewhere around the country. Falling on Trump's 79th birthday, the parade was added just a few weeks ago to the Army's long-planned 250th anniversary celebration. It has triggered criticism for its price tag of up to $45 million and the possibility that the lumbering tanks could tear up city streets. The Army has taken a variety of steps to protect the streets, including laying metal plates down along the route. The daylong display of America's Army comes as Trump has shown his willingness to use his fighting forces in ways other U.S. presidents have typically avoided, inviting an array of lawsuits and accusations that he is politicizing the military. He has deployed the California National Guard and U.S. Marines to provide security during Los Angeles protests tied to immigration raids. It marks the first time in 60 years that a president activated the National Guard on federal orders inside a state without a governor's permission, and California Gov. Gavin Newsom has filed a lawsuit to stop the deployments. Earlier in the week, Trump raised eyebrows during a speech at Fort Bragg when members of the 82nd Airborne Division were directed to stand behind Trump and they booed and cheered during his incendiary remarks, including condemnation of his predecessor, Joe Biden. There also was a pop-up 'Make America Great Again' merchandise stand nearby selling souvenirs to troops in uniform. The Defense Department has a doctrine that prohibits troops from participating in political activity while in uniform. Members of Congress and military leaders have expressed concerns about the political displays during the speech at Fort Bragg. Trump so far has shrugged off concerns about the parade cost, the rainy forecast and the potential for protests. 'What a day it will be!!!' Trump wrote on his social media site, adding later that he hoped the weather would cooperate but that if it doesn't, 'that brings you good luck. That's OK too. Doesn't matter. Doesn't affect the tanks at all. Doesn't affect the soldiers. They're used to it. They're tough. Smart.' As for the protests, he warned that 'they will be met with very big force.' The 'No Kings' rallies planned in hundreds of cities nationwide are meant to counter what organizers say are Trump's plans to feed his ego on his 79th birthday and Flag Day. No protests are scheduled to take place in Washington, D.C., however, and officials have said they so far have no indication of any security threat. About 6 in 10 Americans say Saturday's parade is 'not a good use' of government money, including the vast majority of people, 78%, who neither approve nor disapprove of the parade overall, according to a poll from The Associated Press-NORC Center for Public Affairs Research. The parade will wind down Constitution Avenue, which is already lined with security fencing and barriers. Army helicopters and aircraft will fly above, and the march will be capped off by a parachute jump, a concert featuring 'God Bless the U.S.A.' singer Lee Greenwood and fireworks. With rain expected, there is a chance the parade could be interrupted by thunderstorms. White House spokesperson Anna Kelly has said the march will go on rain or shine. But it could be delayed if there is lightning, with authorities quick to empty the expansive National Mall if it happens during major events. The parade fulfills Trump's expressed desire for a big parade that he tried to get done in his first presidential term after seeing one in France on Bastille Day in 2017. Trump said that after watching the two-hour procession along the famed Champs-Élysées, he wanted an even grander one on Pennsylvania Avenue. The Army expects as many as 200,000 people could attend the festival and parade. The festival will begin around 9:30 a.m. EDT and feature fitness competitions, demonstrations, equipment displays, music and a cake-cutting ceremony. The parade is set to begin at 6:30 p.m. EDT, but parts of it — including the horse-drawn caissons and other units — start at the Pentagon, head over a bridge and meet up with some of the heavier tanks and equipment. Officials did not want the more-than-60-ton M1A1 Abrams tanks and Stryker vehicles crossing the bridge. Timed down to the minute, the march will be divided into sections by history — with equipment and troops in full dress from each period. It will include a total of 6,169 soldiers and 128 Army tanks, armored personnel carriers and artillery, while 62 aircraft fly overhead. At the end of the parade, Trump will swear in 250 new or reenlisting troops, and the Army's Golden Knights parachute team will jump onto the Mall. That will be followed by the concert and fireworks.
Yahoo
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