Terrorism Risk Insurance Revision And Extension Act Of 2007
Mr. Chairman, I thank the chairman for yielding me time. As you know, my district is in northern New Jersey, right across the river from New York City. I also represent parts of Newark and Jersey City, which are both considered high-threat…
Mr. Chairman, I thank the chairman for yielding me time.
As you know, my district is in northern New Jersey, right across the river from New York City. I also represent parts of Newark and Jersey City, which are both considered high-threat areas. As a matter of fact, the New York Times has called parts of my district as containing two of the most dangerous miles in the country. As you can imagine, my constituents deal with the threat of terrorism every day.
When I was Speaker of the New Jersey Assembly, I made homeland security a top priority. Already in my first year in the U.S. House of Representatives, we have tackled important national security issues. The reauthorization of TRIA is another step in the process and something of great importance to the businesses of my congressional district and to this country.
I believe that the Financial Services Committee has thoroughly considered this reauthorization. We held hearings in New York City back in March where we had the opportunity to hear directly from the mayor of New York, Mayor Bloomberg, and Senator Schumer about the need for TRIA reauthorization. I am confident that H.R. 2761 takes their suggestions into consideration. The work of the Financial Services Committee that led to the drafting of this bill makes me proud to be a cosponsor. I think this legislation addresses all the major issues involved in the reauthorization, while maintaining the system that continues to ensure that there is coverage for terrorist attacks.
I want to thank Chairman Frank and Congressman Capuano for introducing the reauthorization legislation, and I look forward to working with the committee and the leadership to make sure that this bill passes.