WASHINGTON, D.C. - Third District Congressman Jon Porter today voiced his support for S. 467, the “Terrorism Risk Insurance Revision Act of 2005”.  The bill, which passed the House by a voice vote, extends the Terrorism Risk Insurance Act (TRIA) by two years.  TRIA, enacted following the attacks of September 11, was set to expire on December 31, 2005.

“Without TRIA, the Las Vegas business community would face serious uncertainty when trying to secure the insurance they need to move forward with current and future projects,” said Porter.  “Simply put, TRIA has been critical to the greater Las Vegas area’s sustained economic growth.”

TRIA requires private insurers to make terrorism insurance available.  In return, the U.S. government guarantees it will bear a large percentage of future losses above certain thresholds.

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