Real Estate Roundtable: Reauthorization of Terrorism Risk Insurance Act by Senate Banking Committee is Fiscally Responsible 22-0 Approval Vote is Key Step to Address Growing Headwind to Economic Growth
WASHINGTON, June 3, 2014 /PRNewswire-USNewswire/ -- Real Estate Roundtable President and Chief Executive Officer Jeffrey D. DeBoer commented on today's 22-0 vote by the Senate Banking Committee to approve the Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244):
"Today the Senate Banking Committee took a key step to address a growing headwind to economic growth. The scheduled year-end expiration of the terrorism insurance program is now starting to slow business transactions all over the country.
"Allowing this law to expire would be very bad for long-term job growth and would leave our economy vulnerable to terrorist attacks.
"The Senate Banking Committee took the right action today in voting to extend TRIA in a fiscally-responsible way. We look forward to working with the House as they consider this important issue."
About The Real Estate Roundtable:
The Real Estate Roundtable brings together leaders of the nation's publicly-held and privately owned real estate ownership, development, lending and management firms with the leaders of national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy. Collectively, Roundtable members' portfolios contain over 12 billion square feet of office, retail and industrial properties valued at more than $1 trillion; over 1.5 million apartment units; and in excess of 2.5 million hotel rooms. Participating trade associations represent more than 1.5 million people involved in virtually every aspect of the real estate business. www.rer.org
SOURCE Real Estate Roundtable