WASHINGTON, Oct. 17 /PRNewswire-USNewswire/ -- Jeffrey D. DeBoer, president and CEO of The Real Estate Roundtable, praised the Senate Banking Committee today on its passage of legislation to extend the federal Terrorism Risk Insurance Act (TRIA). He issued the following statement:
"We applaud the Senate Banking Committee's action on TRIA today, which represents a critical step for ensuring U.S. economic and homeland security.
"TRIA serves as an 'economic first responder' in a terrorist attack -- protecting our businesses and our jobs, and shielding the U.S. taxpayer from significant potential cost. TRIA is a crucial backstop against financial losses from a terrorist attack, and would help to absorb the economic shock of any future tragedy. Amid the expanding threat of foreign and domestic terrorism -- and continuing absence of a private marketplace for terrorism insurance -- TRIA provides much-needed stability to the marketplace.
"TRIA is the common-sense choice for protecting our nation and we look forward to final enactment of a long-term extension of this important law."
SOURCE Real Estate Roundtable