The U.S. House of Representatives passed a six-year extension of the Terrorism Risk Insurance Act on Wednesday, but the measure includes provisions opposed by President Barack Obama and other Democrats.
The extension of TRIA, which would have expired at the end of 2014, passed by a 417-7 vote. According to Bloomberg Businessweek, Rep. Jeb Hensarling, R-Texas, and Sen. Charles Schumer, D-New York, agreed earlier this week to the extension, which would increase the federal insurance backstop in the event of a terrorist attack from $100 million to $200 million, according to Bloomberg. T...
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