Chief Deputy Whip Patrick McHenry (NC-10), a senior member of the House Financial Services Committee, made the following statement regarding passage of H.R. 26, the Terrorism Risk Insurance Program Reauthorization Act:

“Last Congress, the House Financial Services Committee produced a responsible, bipartisan reauthorization of TRIA that achieved our stated goals of both protecting against losses from potential terrorist attacks and also reforming the program to reduce the burden on American taxpayers.  While this bill passed the House by a huge margin, 417-7, that was still not enough to get it through Harry Reid's dysfunctional Senate.

“Today I was proud to again support our Committee’s TRIA reauthorization.  This legislation will resume vital coverage for businesses throughout the country,  provide the insurance industry with much needed certainty, and, most importantly, continue the House’s efforts to serve as a responsible steward of tax payer dollars.  Thank you to Chairman Hensarling for his continued hard work on this legislation and I encourage the Senate and President Obama to act quickly to enact these bipartisan reforms.”

Today's legislation is similar to S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014 which passed the House of Representatives by a vote of 417-7 on December 10, 2014.  Click the image below to see McHenry's speech in support of that legislation.