Gregory Meeks: “I would like to thank the ranking member for her hard work and focus and dedication for getting this done. I know that…”

“I would like to thank the ranking member for her hard work and focus and dedication for getting this done. I know that any time you have things added to a bill so it is not a clean bill, it makes it difficult. But I thank her and the chairman for working together to make this happen because this is a major bill, significantly important. As we learned, I think, from the impact of the 9/11 terrorist attacks, this was substantial. When you look at the losses, it was about $32.5 billion, or $42.9 billion in 2013 dollars. It was the largest insurance loss in global history at that time. And prior to 9/ 11, insurance companies generally covered all of the costs of terrorist attacks. After 9/11, terrorism risk insurance quickly became either unavailable or very, very expensive and unaffordable. Furthermore, premiums for workers' compensation insurance increased significantly, and real estate and commercial ventures were stalled because of an inability to attain the requisite insurance coverage. Now, 9/11 happened in New York, and so, yes, you see New York and New York City Members here supporting the bill. But this is not a bill just about New York. It is about all of America because they did not attack for New York; they attacked New York because it was part of America. We don't know, and we pray that we don't have another attack ever on our homeland again, but it could be someplace else. It doesn't have to be New York.…”