Office of Management and Budget Click to print this document
November 28, 2001
(House Rules)

H.R. 3210 - Terrorism Risk Protection Act
(Rep. Oxley (R) Ohio and 35 cosponsors)

The Administration urges prompt House passage of H.R. 3210 as a step toward enactment of legislation to ensure the continued availability of insurance for terrorist-related acts while encouraging the private sector to build new capacity. In addition, the Administration applauds the House for including reasonable, short-term procedures for terrorist-related litigation. Procedures for consolidation and management of mass tort litigation arising out of a terrorism incident are a necessary part of any meaningful terrorism insurance proposal, and thus a necessary condition for Administration support of any terrorism insurance bill. However, the Administration has reservations about several key provisions of H.R. 3210. In particular, the Administration is concerned that the assessment mechanism could negatively affect important sectors of the economy. The Administration is also concerned with the administrative complexity of the bill as a whole. The Administration looks forward to continuing to work with Congress to address these and other concerns.

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