"We have a finite amount of time to do an infinite number of items," Senate Majority Whip Harry Reid explained to his colleagues on the Senate floor the day before the vote. "We have been very patient waiting for people to file amendments on legislation. We just cannot stand around in quorum calls all day and then deal with amendments that have nothing to do with the basic legislation that the whole country says is important." Since September 11, the real estate industry has suffered from a bevy of cancellations of commercial transactions, as much as 300% increases in terrorism insurance coverage, and the ratings downgrade of several prominent properties. The bill on the table would take some of the pressure off the insurers by instituting a backstop--the insurance industry would be responsible for paying a maximum $10 billion in terrorism related insurance costs for two years, after which the government would pay 90% of the costs beyond that amount.

While restrictions have been placed on deliberations, problems still remain in passing the bill. The most significant point of contention is a partisan one. Republicans want to ban all punitive damages for US companies, but Democrats want the legislation to allow victims to sue companies in the event of negligence. Some Republican senators have indicated that President Bush would not sign off on a bill that would leave companies exposed to unlimited punitive damages.