White House Renews Threat To Nix Expanded Terror Backstop Bill

The Bush administration “strongly opposes” any amendments to the Senate version of the bill and will recommend that Bush veto the bill if any changes are made, officials at the Office of Management and Budget said this morning.

Rep. Spencer Bachus, R-Ala., the most senior Republican on the House Financial Services Committee, sent a letter to Republican colleagues on the committee Monday indicating that he will oppose any amendments proposed by House Democrats when the bill comes to the House floor.

“Based on the feedback we have received from [other Republican members of the committee], a majority of Republicans will be voting against this bill,” Bachus writes in the letter.

“While I encourage all members to vote their conscience, I will be voting against Chairman [Barney] Frank’s bill in order to avoid further delay in renewing the Terrorism Risk Insurance Act before the program expires Dec. 31,” Bachus writes.

“Consistent with our previous position, the Senate compromise is closer to the legislation we Republicans advocated in the House,” Bachus writes.