It passed with overwhelming bi-partisan support, 417-7 (all 7 nays were republicans) and we expect it to pass the Senate tomorrow.
- will be renewed for six years, through December 31, 2020;
- no bifurcation of NCBR and conventional acts;
- increases the program trigger to $200 million;
- decreases the Federal share of losses to 80%;
- increases the mandatory recoupment amount to $37.5 billion;
- changes the certification process by requiring the Tresury Secretary consult with the Secretary of Homeland Security; and
- includes several studies and reporting requirments. See the section-by-section summary for details.
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