|
| | |
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.
|
| |
|
|