Pelosi Statement on House Passage of TRIA

Contact: Drew Hammill, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after the House passed a reauthorization of the Terrorism Risk Insurance Act:

"For over a decade, the Terrorism Risk Insurance Act has provided an essential backstop for our businesses and the American people, making terrorism insurance both available and affordable while reducing taxpayer exposure. Thanks to this law, twice reauthorized by overwhelming bipartisan majorities, our nation was able to build for the future with confidence.

"Last year, a bipartisan long-term reauthorization was scuttled at the last minute, and this vital legislation expired. Failure to reauthorize TRIA jeopardizes the economic security of our nation.

"Every day we delay is a day we inject uncertainty into our economy. We must act quickly to restore the backstop of TRIA, and move forward on new measures to create jobs, achieve bigger paychecks, and address the financial stability of every American family."

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