Upon passage of legislation to renew the expired Terrorism Risk Insurance Act (TRIA), Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Committee and a strong advocate for the program’s renewal, released the following statement:
“I’m pleased that House Republicans have recognized the damage caused by the 11th hour brinksmanship that led to TRIA’s expiration. I thank House leadership for heeding the calls of myself and others to make the program’s renewal the first order of business in the new Congress.
Unfortunately, because this legislation still contains provisions unrelated to the important terrorism insurance backstop, its future remains uncertain in the United States Senate. TRIA is crucial to restoring stability in our national economy and giving countless businesses the tools they need to create jobs, spur investment and promote sustainable economic growth in every corner of our nation. I hope Senate Republicans do not again block TRIA from moving forward. Equally as important, we should not be using legislation renewing such an important program as a vehicle to ram through unrelated changes to Dodd-Frank.”