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Tuesday, January 6, 2015

Chairman Hensarling Addresses TRIA Leglislation

As the House plans to vote this week on legislation to reauthorize the Terrorism Risk Insurance Act (TRIA), Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following statement:

“Just last month, Democrats joined Republicans in the House to overwhelmingly pass bipartisan legislation 417-7 to reauthorize TRIA with taxpayer protection reforms.  The only reason TRIA expired is because the then Democrat-controlled Senate failed to even bring that bipartisan bill up for a vote.  The House will once again lead on this issue and bring up the same bipartisan bill that 196 House Democrats voted for less than a month ago.  Just as before, this bill will also bring greater certainty and stability to Main Street businesses, farmers and ranchers by clarifying that they will no longer be subject to a misinterpretation of the language of Dodd-Frank.  House Democrats previously – and correctly – described this as a ‘technical fix’ to Dodd-Frank and they have now voted for it twice.  I look forward to yet another overwhelmingly bipartisan vote for this legislation.” 

If you would like to learn more about ABIA's support of TRIA or to join our TRIA Task Force, please contact us and visit our website.