MAJOR EARTHQUAKE ROCKS CALIFORNIA AS CONGRESS PREPARES TO CONSIDER HOMEOWNERS’ DEFENSE ACT (HR 2555)

A 7.2 magnitude earthquake emanating from Mexicali, Mexico, rocked southern California and several other southwestern states on Sunday morning. This enormous wake-up call shook the ground in California, Nevada and Arizona, just a few weeks before action is expected in the House Financial Services Committee on legislation to create a comprehensive and integrated national program to better prepare and protect American families and communities from the devastation caused by massive natural disasters such as hurricanes and earthquakes.

The Homeowner’s Defense Act (HR 2555) is deemed as an essential component that will help lower the cost of homeowners’ insurance and make coverage more available throughout the nation. Its provisions to bolster mitigation efforts and better train and equip first responders are critical to minimizing damages before catastrophes strike and to save lives when the unthinkable happens. The financial backstop proposed in the Act would not only reduce homeowners’ insurance premiums, it would substantially reduce the current post-event taxpayer bailouts that penalize all taxpayers and are highly inefficient.

According to the Associated Press, “The powerful earthquake swayed buildings from Los Angeles to Tijuana, killing two people in Mexico, blacking out cities and forcing the evacuation of hospitals and nursing homes. One California city closed off its downtown due to unstable buildings. The 7.2-magnitude quake centered just south of the U.S. border near Mexicali was one of the strongest earthquakes to hit region in decades.”

Watch television news coverage.

View a slideshow from TheExaminer.com.