Senate Approves Terrorism Risk Insurance Extension; Final Compromise Bill May Be Enacted by Year-End

Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable (http://www.rer.org), issued the following statement regarding today's unanimous vote in the Senate to extend the Terrorism Risk Insurance Act (TRIA).

WASHINGTON, Nov. 16 /PRNewswire-USNewswire/ -- The following was released today by Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable:

"Today's unanimous vote in the Senate to pass an extension of the Terrorism Risk Insurance Act (TRIA) is a solid assurance to American citizens and businesses that our economy will continue to be protected from the potentially severe economic repercussions of another terrorist attack. It is a victory for economic security, job preservation and the future health of our financial markets."

"The Senate's 7-year TRIA extension is also a victory for congressional bipartisanship, as Senate Banking Committee Chairman Christopher Dodd (D-CT) and Ranking Member Richard Shelby (R-AL) worked diligently to craft a solution before the current TRIA program expires on December 31 . We now look forward to working with policymakers in both the Senate and House to develop a final bill by year-end, including provisions which will ensure all parts of our nation have access to adequate terrorism insurance -- before and after any terrorist attack."

The Real Estate Roundtable (http://www.rer.org) brings together chief executives from top U.S. real estate entities and leaders of real estate industry trade associations to develop broad-based positions on big-picture policy issues relating to real estate and the national economy. Collectively, its members' portfolios contain over 5 billion square feet of office, retail and industrial properties valued at more than $700 billion; over 1.5 million apartment units; and in excess of 300,000 hotel rooms. Participating trade associations represent more than 1 million people involved in virtually every aspect of the real estate business.

SOURCE Real Estate Roundtable



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