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Member, Beacon International Group, Ltd.
WASHINGTONThe U.S. Chamber of Commerce plans to push for extension of the federal terrorism insurance backstop in the new Congress, according to a senior Chamber official.
Extending the program, which is slated to expire on Dec. 31, will be among the Chamber's legislative priorities, R. Brice Josten, the Washington-based Chamber's executive vp-government affairs, said after Chamber President and CEO Thomas J. Donohue discussed the state of U.S. business on Thursday morning at the Chamber's headquarters in Washington. Regarding the terrorism insurance backstop, Mr. Josten added that the Chamber would "like to see it be permanent."
During his comments, Mr. Donohue said that the Chamber would continue pushing for legal reforms. But during a question and answer period following his prepared remarks, he did not list legal reform among the business group's top four priorities. And he noted that with both houses of Congress now under Democratic control, "I don't know what legal reform we might get out of Congress."
But "I think there is a great sentiment in the states" for continued reform, said Mr. Donohue. States view legal reform as a means to be more attractive economically, he said.