Thanks to former Senator Tom Coburn, Congress left town in December without reauthorizing the Terrorism Risk Insurance (TRI) program, the "temporary" program created after 9-11 to provide a taxpayer "backstop" for terrorism insurance. Senator Coburn's objection was to the bill's provision creating a national insurance registry.
After the Senate adjourned in December without renewing TRI, the insurance lobby snapped into action, spinning horror stories about how the economy would collapse unless this "temporary" program was renewed. They were even claiming that unless Congress extended the terrorism insurance program, the Super Bowl would have to be canceled.
Well fear not football fans, thanks to quick action of Congress, the Super Bowl is safe! As one of its first actions, Congress overwhelmingly passed legislation reauthorizing the “temporary" TRI program, and it is now on its way to President Obama's desk where he is sure to sign it.
House roll-call vote here.
Senate roll-call vote here.
Here is Ron Paul's statement on the program here.
Tags: Ron Paul, Corporate welefare, Tim Carney, Congregress