Several leading U.S. House Democrats are sponsoring legislation to extend the Terrorism Risk Insurance Act for 3 years and specifically cover group life.[@@]
The legislation, H.R. 4772, was introduced by Rep. Mike Capuano, D-Mass., and is co-sponsored by Reps. Barney Frank, D-Mass., and Paul Kanjorski, D-Pa.
All are senior members of the House Financial Services Committee.
Their bill differs markedly from H.R. 4634, a bill that was introduced last month by several leading Republicans. The Republican sponsors of H.R. 4634 include Reps. Richard Baker, R-La., Sue Kelly, R-N.Y., Eric Cantor, R-Va., and Pete Sessions, R-Texas.
- H.R. 4634 would extend TRIA for 2 years. The new bill, H.R. 4772, would extend TRIA for 3 years.