Terrorism Risk Insurance PRogram Reauthorization Act of 2014

Floor Speech

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Mr. DUFFY. Mr. Speaker, first I want to commend the chairman of the Financial Services Committee for his tenacity and hard work to make sure the American taxpayer is protected, on the hook just a little bit less for the next terrorism attack that could happen in our country, and the private sector is on a little bit more.

I am encouraged by this bipartisan bill because it ensures that my constituents in central, northern, and western Wisconsin can purchase affordable terrorism risk insurance. This 6-year reauthorization is a backstop for all Americans. This is not just a bill for New York, as my friends have mentioned, or Chicago or L.A., but it helps

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small town America. If you have a small mall in your community or for Lambeau Field in Green Bay, Wisconsin, they can purchase terrorism risk insurance. The reauthorization of this program is incredibly important.
I want to note one other important part, and that is the requirement that we have a community banker as part of the Federal Reserve, making sure that as the Fed goes in to a larger role with rules and regulations, they have a perspective and a view that takes into account small community banks all around America that right now are being crushed by overburdensome rules and regulations.

I commend the chairman on the bill.

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