By Julia Manchester
Rep. Jeb Hensarling (R-Texas) said on Thursday that it’s unreasonable for taxpayers to repeatedly pay for homes that have flooded, suggesting that homeowners move out of at-risk houses.
“We have these repetitive loss properties. So, for example, we have one property outside of Baton Rouge that has a modest home worth about $60,000 that’s flooded over 40 times. The taxpayers have paid almost half a million dollars for it,” Hensarling said on CNBC’s “Squawk Box.”
“At some point, God is telling you to move,” he added.
“If all we do is force federal taxpayers to build the same home in the same fashion in the same location and expect a different result, we all know that is the classic definition of insanity,” he continued.
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