WASHINGTON, DC—So close and yet so far. After much wrangling andlast-minute nail biting, last week the House of Representatives delivered a billextending the Terrorism Risk Insurance Act through2020, while raising the trigger to $200 million. The effort was allfor naught: Last night, the measure died in the Senate afterTom Coburn (R-Okla.) blocked the legislative bodyfrom holding a final vote.

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Coburn had been opposed to a provisions requiring insuranceagents to register into a federal nonprofit clearinghouse. Coburnwanted states to be able to opt-out of the process.

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TRIA had not been included in the omnibus spending bill thatboth the House of Representatives and the Senate passed and thatPresident Obama is set to sign. Democrats had opposed revisions theHouse made to the bill that loosened certain Dodd-Frankprovisions.

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New York Senator Chuck Schumer (D-NY) has saidhe hopes the measure be brought to the floor next year.

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One rumor making the rounds was that the NationalFootball League would cancel next year's SuperBowl if the measure didn't pass. On Tuesday night the NFLdebunked that rumor, stating the game would continue no matter whathappened with TRIA.

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Still, there is no shortage of disgust over the failure to passTRIA this year.

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"A dysfunctional Washington caused the failure of TRIA lastnight," Real Estate Roundtable CEO Jeff DeBoertells GlobeSt.com. "We are deeply disappointed. This law is tooimportant to the economy and jobs to have derailed by unrelatedissues the way it was. We plan to quickly regroup and develop aplan with the new Congress on how to go forward."

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