New Democrat Coalition Leaders Urge Passage of TRIA Reauthorization

Rep. Jim Himes (D-CT), a Vice-Chair of the New Democrat Coalition, and Rep. John Carney (D-DE), the New Democrat Coalition’s Whip and Co-Chair of the Coalition’s Financial Services Taskforce, released the following statement urging the passage of the Terrorism Risk Insurance Program Reauthorization (TRIA):

“It is unfortunate that the Senate was unable to reauthorize TRIA following the House’s bipartisan action in December.  More than a decade after the tragedy of September 11, 2001, terrorism remains a constant threat, and the lapse in TRIA created unnecessary risk and uncertainty for our economy,” the leaders said in a statement. “Before TRIA, many American businesses were shut out of insurance protection from terrorist attacks and other non-natural disasters, leaving companies, employees and families exposed to risk.  TRIA provides a backstop that removes this uncertainty.

“This bill also contains bipartisan language that benefits American manufacturers, ranchers, farmers, small business owners and others who need to protect themselves against risk. This legislation is necessary for both our economy and our national security. We urge the Senate to act without further delay.”

The New Democrat Coalition is dedicated to maintaining America’s standing as the world’s strongest, most successful nation. Founded in 1997, the New Dems believe firmly in the power of American ingenuity and innovation, and are focused on finding ways to foster and harness this creativity to grow our economy, create new American jobs, and ensure a safer and more secure future for our country. 

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