WASHINGTON--Over time, the deficit in the National Flood Insurance Program can be expected to grow by $900 million annually because the program was designed to be subsidized, according to a new Congressional Budget Office study.

Moreover, coastal properties tend to be more valuable than other properties nationwide, many have high values, and a "significant fraction" (23 percent) are either second homes or rental properties.

The study coincides with a decision by the House Financial Services Committee to postpone action that had been scheduled for today on legislation extending the program and adding money to it.

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