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Friday, November 7, 2014

Majority Leader Kevin McCarthy Supports Short-Term Extension of TRIA Bill

House Majority Leader Kevin McCarthy today joined House Speaker John Boehner in mentioning he is open to a short-term extension of the Terrorism Risk Insurance Act (TRIA) rather than moving the House Financial Services Committee’s five-year bill during the upcoming lame duck session.

The Majority Leader expressed support for extending TRIA for six to twelve months to allow House Republicans to craft a new proposal next year with Senate Republicans. TRIA is set to expire at the end of this year.
 
“I agree with Chairman Hensarling that it is important a long-term TRIA extension includes reforms that protect the American taxpayers and I support his efforts to achieve that, even if a short-term extension is needed,” McCarthy said in a statement today. McCarthy in April said “we will get TRIA done hell or high water.” 

Boehner on Wednesday said that “without action on such a measure, a short-term extension may be necessary.”