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Terrorism Risk Insurance Program Reauthorization Act of 2007

By: Tom Udall
By: Tom Udall
Date: Dec. 18, 2007
Location: Washington, DC
Issues: National Security


TERRORISM RISK INSURANCE PROGRAM REAUTHORIZATION ACT OF 2007 -- (Extensions of Remarks - December 19, 2007)

[Page: E2655]

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SPEECH OF
HON. TOM UDALL
OF NEW MEXICO
IN THE HOUSE OF REPRESENTATIVES
TUESDAY, DECEMBER 18, 2007

* Mr. UDALL of New Mexico. Madam Speaker, In 2002, we enacted the Terrorism Risk Insurance Act in an attempt to stabilize the economy following the tragic events of September 11, 2001 and to protect against economic catastrophe should another attack occur. This important program is set to expire at the end of the year, and it is essential that we reauthorize TRIA.

* The legislation before us is not the strong bill we passed in September or the compromise we passed last week, and it is not a perfect bill. It extends TRIA by only 7 years and does not include the strong new provisions that were included in the other bills we passed. However, this legislation does do one vital thing: it works to ensure the stability of our economy should another national crisis occur. For this very important reason, I support this legislation today but hope we can pass a stronger bill in the future.


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