WASHINGTON, D.C. – Following her first series of votes on the Senate floor, Senator Joni Ernst (R-IA) issued the following statement after voting in favor of reauthorizing the Terrorism Risk Insurance Act (TRIA). This six year reauthorization voted on in the Senate today protects taxpayers by shifting more of the financial burden of potential terrorism-related losses from the government to the insurance market.
“This reauthorization provides important safeguards for hardworking American taxpayers and businesses while also rolling back unnecessary regulations hurting our agricultural community,” said Senator Ernst.
On Wednesday, the House of Representatives backed reauthorization of TRIA with overwhelming bipartisan support. Authorization for the program lapsed at the end of 2014 after the Senate adjourned without voting on the measure.
BACKGROUND
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