The Real Estate Roundtable, the Coalition to Insure Against Terrorism and other involved groups had been pressuring House leadership to include the extension legislation, HR 4634, as an amendment to Sept. 11-related legislation that is currently on the table. Additionally, 25 Democratic House members presented House Speaker Dennis Hastert with a letter imploring the leadership to act on the proposed two-year extension before the end of the session.
In the letter, the members pointed out that, "since most commercial insurance policies are written on a 12-month cycle, TRIA should be extended this year to avoid significant market disruptions in 2005." Real Estate Roundtable president and CEO Jeffrey DeBoer expresses his organization's disappointment in the failure to schedule a vote on the extension, but vows to work with the 109th Congress "to advance this important legislation."
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