Congresswoman Maxine Waters(D-CA), Ranking Member of the Committee on Financial Services, issued the following statement following Senate passage of legislation to renew the Terrorism Risk Insurance Act (TRIA), a critical insurance backstop that provides important protections for construction jobs, venues and regional economies across America:
“ I applaud the U.S. Senate for swiftly addressing renewal of the Terrorism Risk Insurance Act. Today’s vote will ensure TRIA returns to its established role as a critical support for high-value construction projects that create jobs, investments that fuel our economy and activity that stimulates economic growth. At a time of global uncertainty, we must have TRIA in place to ensure our nation, and its businesses, have every available protection at their disposal.
For more than a year, Democrats called for the quick, clean and long-term reauthorization of TRIA. This critical program could have been reauthorized months ago if Republicans hadn't engaged in the types of subversive maneuvers like the ones we've seen over the past several weeks.”