Joe Lieberman: “I have one simple message regarding the terror insurance legislation. We need to act now, before we adjourn, and we need…”

“I have one simple message regarding the terror insurance legislation. We need to act now, before we adjourn, and we need to get this right. I fear that if we don't act, or don't get this right, we will need to return early in January to address this problem. Unfortunately, it is now obvious that we won't enact this critical legislation. This is irresponsible. Let me say clearly, my colleague from Connecticut, Senator Dodd, should be commended for his valiant effort to secure an agreement. It is not his fault that this did not get done. He has had his eyes focused clearly on the goal line every day on this bill. He has been practical, energetic, tough, and patient. We are not able to act before we leave, but I want to congratulate Senator Dodd for his valiant effort. Let me explain why this issue is so important. As part of their property and casualty insurance, many businesses have insurance against the costs that arise if their business is interrupted. If we don't pass an effective terror insurance bill, the government will, in effect, cause massive interruption in the business community. We will create the interruption. We could have avoided this result by passing this legislation. Property and casualty insurance is not optional for most businesses.”