Washington, DC - Senate Democratic Leader Harry Reid released the following statement today on the need to extend the Terrorism Risk Insurance Act:
“Today’s report day by the Rand Corporation reiterates the importance of extending the Terrorism Risk Insurance Act (TRIA) to insure that future terrorist attacks do not cripple our economy and concludes there will be minimal liability by the Federal government.
“Despite full knowledge that TRIA will expire at the end of the year, Congress has still taken no action to extend this crucial piece of legislation. With terrorism unfortunately still a risk in America today, we can not allow this important legislation to lapse and put the economy and American jobs at risk. We know that together, we can do better than leaving our country vulnerable and that is why Democrats have been trying to focus attention on this matter. It is time for the Republican leadership in the House and Senate and the Bush administration to take the lead and get this bill through Congress and signed into law.”