In the muck that is today’s politics, hearing the news that Congress agreed on anything is a rarity. But in this new congress, a bill actually passed both the House and Senate and is on its way to the president’s desk.
This is news! Politicians actually doing their job!
The Senate overwhelmingly passed a six-year extension of a terrorism insurance program Thursday, wrapping up work on an unfinished piece of business from the last Congress and sending the bill to President Obama for his signature.
The passage of the bill marked the first time legislation was cleared by both chambers of the 114th Congress. The bill passed the House on Tuesday Wednesday.
The Terrorism Risk Insurance Act (TRIA) was signed into law in 2002 by then-President George W. Bush after the 2001 terrorist attacks. It allows the government to serve as a financial backstop for businesses suffering losses due to catastrophic attacks.
Sen. Elizabeth Warren (D-Mass.) introduced an amendment to the bill that would strip it of a provision that would alter the Dodd-Frank financial regulation law. Warren’s amendment failed.
