WASHINGTON—There appears to be no momentum for House action on legislation reauthorizing the federal backstop on terrorism risk insurance during the current two-week session.
The current version of the Terrorism Risk Insurance Act sunsets Dec. 31. But, Congress is expected to be out of session from Sept. 19th until after the mid-term elections.
R.J. Lehmann, editor-in-chief and a senior fellow of the R Street Institute, a conservative Washington think-tank, said House Republicans appear to have been unable to secure enough votes to push through legislation reported to the floor by the House Financial Services Committee in July over the next two weeks.
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