Ackerman: Alabama Not Worried About Terrorism

The House-Senate standoff over terrorism insurance escalated this week, leaving insurance and real estate industry lobbyists freaked out that the fight will scuttle the bill’s chances of passing at all.

Harsh words are starting to fly.

“The Senate has refused to go to conference,” Rep. Gary Ackerman (D-N.Y.) told Politico Thursday. “The Senate has been very, very busy doing something. I don’t know what… They couldn’t take care of terrorism insurance.”

At issue is legislation to extend the federal terrorism insurance backstop, known as TRIA, before it expires Dec. 31. Both chambers passed their own versions of a multi-year extension – and that’s where the whole thing stalled.

House Democrats are trying to place the onus for action on the Senate, where leaders continue to insist they’ve gone as far as they can.

House Financial Services Chairman Barney Frank (D-Mass.), with a strong assist from the New York delegation, is attempting a strategic end-run around the Senate block, bringing a revised TRIA bill to the floor next week. The measure is scaled back from the original House bill in attempt to appease the Senate’s needs, but maintains three key provisions House lawmakers consider their “bottom line,” said Ackerman, who helped Frank with the latest bill.