Bush Demands Terrorism Insurance Law Today

WASHINGTON, DC-President Bush has given Congress a deadline of today to pass terrorism insurance legislation, after publicly chastising members for not having put such a law in place by more than a year after the September 11 terror attacks. The US House of Representative and the Senate both passed their own bills, but partisan disputes among conferees over liability in punitive damages in resulting civil lawsuits against property owners have impeded agreement on a uniform bill.

“Congress’ inaction on terrorism is threatening our jobs,” Bush remarked at a White House event yesterday that included union workers and business leaders. “They can move and need to help the economy. Because, you see, one recent survey shows that more than $15 billion in real estate transactions have been terminated or put on hold because the lack of terrorism insurance.”