Conservative House Republicans intend to hold legislation reauthorizing a federal backstop for terrorism risk insurance hostage unless they get the slimmed-down version of the bill they support, they indicated Thursday.
They said that means Congress would have to accept a slimmed-down version of the bill this year, no bill at all, or an eight-month extension of the program that would be taken up next year by what they foresee as a Congress where both the House and Senate are controlled by Republicans.
In reaction, a key House Democratic staffer saw no end to the impasse. He said one Republican, Rep. Peter King, R-N.Y., has the support of 30 urban and moderate Republicans for an extension closer to the Senate version, and there are some 20 Republicans “on the other side,” that are demanding a smaller bill.
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