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Congress in Recess for Fourth of July, Short Window for TRIA After

The House and Senate stand in recess until after the 4th of July...
July 8, 2014

The House and Senate stand in recess until after the 4th of July. When they return they will have only four weeks to resolve the many differences between their respective Terrorism Risk Insurance Act (TRIA) bills before leaving town once again, when they will largely remain out of session until the November elections. The Senate has passed a bipartisan bill renewing TRIA for seven years and is more consistent with the current program. The House Financial Services Committee passed a controversial five-year TRIA renewal bill on a party-line vote that attempts to put the backstop on a path toward phasing it out. PIA is continuing our advocacy for as straightforward, long-term a reauthorization of TRIA as possible.

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