House Passes Terrorism Bill, Senate This Week

Widely reported on Friday, the House of Representatives passed a Federal Backstop Terrorism bill that would have the government cover up to $ 90 billion annually in insurance claims from any future terrorist attacks. The terrorism insurance bill, approved by voice vote, began moving after telephone calls by President Bush to Republican leaders in recent days broke a yearlong logjam. It is anticipated that the bill will be passed by the Senate early this week and be sent to the President, who believes the measure would invigorate the economy because insurance companies would then be more willin...