Posted by Congressman John Campbell at 12:00 am on Dec 19, 2007 1 Comment
The impending Christmas holiday, which cannot be waived even
with a 2/3rds vote of Congress, has motivated lots of deal making,
and Congress will adjourn for the year sometime tonight. Here are
some of the things, in addition to the energy bill and the budget
which I told you about yesterday, that are on their way to the
President’s desk:
•TRIA: A 7 year extension with some positive modifications
to the Terrorism Risk Insurance Act which was put in place after
the attacks of 9/11. This provides federal government reinsurance
so that the private market can profitably offer terrorism risk
insurance on major commercial properties around the country. This
compromise was more than the no extension that some wanted and less
than the subsidies that others wanted.
•SCHIP: After a year long and often bitter fight over whether
to expand the State Children’s Health Insurance Plan to cover
adults and middle class children (basically a step to socialized
medicine), the Democratic leadership backed down and relented to a
16 month extension of the current program with some program
revisions. This bill passed with a vote of 411-3. The floor
speeches from… Read More