HOUSE PASSES TERRORISM INSURANCE EXTENSION, RETURNS BILL TO SENATE

Alabama's House seven-member delegation voted with the majority Wednesday on its version of a bill to extend the termination date of the 12-year-old Terrorism Insurance Act that provides a vital service to business.

The House approved its version of the bill 417-7. In July, the Senate approved its bill on a vote of 93-4. Since the House bill passed in different form it must return to the Senate for consideration. 

In September the Business Council of Alabama was one of 400 organizations to sign a letter urging the U.S. House to reauthorize the TRIA. The letter was created by the U.S. Chamber of Commerce.

"TRIA fosters certainty in the marketplace by ensuring that private terrorism risk insurance coverage remains commercially available at virtually no cost to the taxpayer," the U.S. Chamber said.

The letter asked the House to approve a long-term, bipartisan reform bill. The coalition of business and chamber groups asked Congress in April to strongly urge reauthorization of the act, which would have expired Dec. 31 unless action was taken.

The Sept. 11, 2001, terrorist attacks fundamentally changed insuring against the risk of terrorism in the U.S.  Because there was no way to model risk, insurers were forced to pull out of the marketplace. An inability of insurance policyholders to secure terrorism risk insurance contributed to economic paralysis, especially in the construction, travel and tourism, manufacturing, and real estate finance sectors.

The TRIA passed in 2002 made it possible for the American economy to get the coverage it needs and at the same time protecting the taxpayer.

U.S. Rep-elect Gary Palmer, R-Hoover, has been assigned to the House Oversight and Government Reform Committee, the House Committee on the Budget, and the House Committee on Science, Space, and Technology, according to AL.com.

Oversight and Government Reform is a legislative watchdog of the executive branch, AL.com reported.  The committee will afford Palmer a platform to quiz federal agencies for information and transparency. 

The House Committee on the Budget sets general federal spending and revenue priorities for the federal government.

The House Committee on Science, Space, and Technology Committee also includes Rep. Mo Brooks, R-Huntsville. With two members, Alabama could have a formidable congressional duo impacting the state's growing science and aerospace industries, AL.com said.

Palmer takes office next month.

U.S. Chamber Rallies Business Associations Around Key Priorities

U.S. Chamber of Commerce (Donohue 12/9) "The business community must rally behind pro-growth policies, government reform, and protection of fundamental rights, U.S. Chamber President and CEO Thomas J. Donohue told a group of the nation's leading business associations this morning at a meeting in California.

"'The American people want a government that does its business competently', said Donohue. 'They want an economy that gives them, and especially their children, an opportunity to do more than just tread water, but really swim ahead. And they are crying out for leadership from all sectors that puts the country first. Business can't do it all, but as leaders of the great business and industry associations of the nation, we can and should set a bold example'.

"'In addition to supporting pro-growth policies that would capitalize on America's energy abundance, spur investment in infrastructure, conclude agreements that would open the world to American goods and products, and make sensible changes to immigration, taxes, and entitlements, Donohue said business must press to reform government itself, particularly the way it creates and implements regulations and issues permits'."

(The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. The Business Council of Alabama is the exclusive affiliate in Alabama of the U.S. Chamber of Commerce.)

Contentious Government Funding Bill Narrowly Passes

 The Hill (Shabad, Marcos, Lillis 12/11)  "The House on Thursday approved a $1.1 trillion bill funding most of the government through September despite an outcry from Democrats and significant defections in both parties. By a vote of 219-206, the House sent the bill to the Senate, where a similar debate may break out between liberal Democrats and the White House.

"The vote split Democratic leaders, with House Minority Leader Nancy Pelosi (D-Calif.) opposing the bill and criticizing the White House, but Minority Whip Steny Hoyer (D-Md.) backing it. Fifty-seven Democrats voted for the bill, while 139 opposed it. The House also voted by unanimous consent on a two-day continuing resolution that would expire on Saturday. This is meant to keep the government funded and give the Senate cushion to consider the 'cromnibus' package. 

"Democrats objected to changes to the Wall Street reform bill that were included in the 1,600-page bill, and many were unswayed by a last-ditch White House lobbying push that included a visit to the conference by White House chief of staff Denis McDonough. Conservative Republicans, meanwhile, opposed the bill for not doing more to curtail President Obama's executive actions on immigration. While 162 Republicans voted for the bill, 67 rejected it.

For much of the afternoon and evening, the bill looked to be at death's door as a government shutdown loomed at midnight. The bill's passage, as a result, was a remarkable victory for both Speaker John Boehner (R-Ohio) and President Obama, who were able to cobble together the votes for passage. The so-called 'cromnibus' included an omnibus of 11 appropriations bills funding most of the government through September, and a continuing resolution funding the Department of Homeland Security through Feb. 27. The base bill is just more than $1 trillion, but the legislation also includes emergency funding that brings the total spending to $1.1 trillion."

(Detailed reports on all 12 parts of the spending bill are here and here.)