Pete Sessions: “Exactly what the gentlewoman speaks about was part of the long discussion that we had in the Rules Committee yesterday.…”

“Exactly what the gentlewoman speaks about was part of the long discussion that we had in the Rules Committee yesterday. The gentleman from Dallas, Texas, Chairman Hensarling, very clearly went through-- piece, by piece, by piece--the things which the Senate had added which were extraneous to TRIA and that were in their bill that they passed. Likewise, the chairman outlined what he was for. He described a bill that got 411 votes in this body. One thing was a very pleasant surprise, and I thought it was very wisely done by the Secretary of the Treasury. I would like to read what Secretary Jacob Lew said in a letter that was addressed on December 7, just this week, to the Honorable Charles E. Schumer. Chuck Schumer is the leader of this TRIA bill in the Senate. He said: Dear Senator Schumer, I want to thank you for your leadership on extending the Terrorism Risk Insurance Act and its program. As you know well, TRIA is critical to our economic and national security. Terrorism insurance is necessary for a broad range of economic activities in areas across the country and would be prohibitively expensive or unavailable in the absence of the program. There is clear bipartisan support in both the Senate and the House to enact a long-term extension while making reforms to further reduce taxpayer exposure.…”