Chief Deputy Whip Patrick McHenry (NC-10), the Chairman of the Financial Services Committee's Oversight and Investigations Subcommittee, released the following statement on House passage of S. 2244, the Terrorism Risk Insurance Program Reauthorization Act (TRIA) of 2014, extending the program for six more years:

“I applaud today’s passage of the Terrorism Risk Insurance Program Reauthorization Act of 2014.  This legislation accomplishes our Committee’s stated goal: a long-term extension of the TRIA program to protect against losses from possible terrorist attacks, which also reforms the program to reduce the burden on American taxpayers.  These bipartisan reforms will provide the certainty needed for the insurance industry while also continuing the House’s efforts to serve as a responsible steward of tax payer dollars.
 
“Additionally this legislation protects Main Street businesses by changing burdensome requirements included in the Dodd-Frank financial reform legislation that have unnecessarily harmed countless small businesses. I applaud Chairman Hensarling for his hard work leading this legislation to House passage and strongly encourage the Senate to support it as well.”