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Statement of Senator Dodd on House Passage of Senate TRIA Bill

December 18, 2007

“I commend the House for their approval of this measure. It will help to protect our nation’s workers and businesses from the risk of terrorism and help to ensure that our economy is able to thrive and create jobs. This is a carefully crafted, strong and balanced bill that the President has said he will sign into law. I want to thank Senator Shelby, Majority Leader Reid, Republican Leader McConnell, Chairman Frank and others who helped make this day a reality.” Senator Dodd co-authored the original Terrorism Risk Insurance Act (TRIA), which was passed by Congress and signed into law after 9/11. TRIA provides a federal backstop against catastrophic losses in the property and casualty insurance marketplace associated with massive terrorism damages. Set to expire at the end of this year, the bill approved today extends the program for seven years through December 31, 2014. Senator Dodd authored the legislation to reauthorize the measure, which was overwhelmingly approved by the Banking Committee on October 17, 2007. Senator Dodd helped win unanimous Senate approval for the bill on November 16. The bill now goes to the President for his signature.

December 2007 Press Releases

December 21st DODD HIGHLIGHTS BANKING COMMITTEE ACCOMPLISHMENTS
December 19th DODD, SHELBY REACT TO TREASURY SEMI-ANNUAL CURRENCY REPORT
December 19th Statement of Senator Dodd, Chairman of the Senate Banking Committee, on Morgan Stanley-China Investment Corporation Deal Washington, D.C.
  Current record
December 18th Statement of Senator Dodd, Chairman of the Senate Banking Committee, in Reaction to Proposed Fed Housing Rules
December 18th DODD HAILS FINAL PASSAGE OF HIS BILL WHICH WILL ENCOURAGE DIVESTMENT FROM DARFUR
December 17th BANKING COMMITTEE CHAIRMAN DODD NAMES HOLLINGSWORTH DEPUTY STAFF DIRECTOR AND SENIOR POLICY ADVISOR Washington, D.C.
December 14th SENATE PASSES DODD’S BILL TO HELP FAMILIES KEEP AND BUY THEIR HOMES
December 12th DODD INTRODUCES LEGISLATION TO PROTECT AMERICAN HOMEOWNERSHIP
December 11th Statement of Chairman Dodd on Federal Reserve’s Policy Action
December 6th DODD RESPONDS TO ADMINISTRATION’S HOUSING PROPOSAL Washington, D.C.
December 6th DODD RESPONDS TO ADMINISTRATION’S HOUSING PROPOSAL
December 6th Banking Committee Chairman Dodd and Securities Subcommittee Chairman Reed Urge SEC to Issue Guidance on Disclosure of Corporate Climate Risk Washington, D.C.
December 3rd DODD RESPONDS TO TREASURY SECRETARY’S COMMENTS
December 3rd DODD RESPONDS TO TREASURY SECRETARY’S COMMENTS Washington, D.C.