U.S. Senate Majority Leader Tom Daschle, D-S.D., filed a cloture motion Friday to end debate on the Terrorism Risk Insurance Act of 2002, S. 2600. It is anticipated that the Senate will vote on the bill itself on Tuesday if his motion passes. Approval of the bill by the Senate would then mean Congress would have to reconcile the bill with a very different House bill that passed last fall.
While the Senate bill creates a federal backstop when industrywide aggregate losses from a terrorist event exceeds $10 billion, the House bill by contrast allows the government to make loans insurers that wo...
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