The Real Estate Roundtable Commends Legislation As Vital Tool to Foster Economic Growth
(WASHINGTON D.C.) — The Real Estate Roundtable's President and CEO Jeffrey DeBoer today issued the following comment about President Obama signing into law the Terrorism Risk Insurance Program Reauthorization Act of 2015, a six-year renewal of the federal terrorism risk insurance program:
Real Estate Roundtable President and CEO Jeffrey DeBoer
"With President Obama's signature on the Terrorism Risk Insurance Act (TRIA), America's businesses can once again focus on productive ways to build on the economic recovery now underway and create even more private sector jobs. TRIA will not stop terrorists. It does allow all businesses of all types across the nation to secure the insurance and financing that is necessary to expand. The Roundtable commends Congress for reinstituting the expired TRIA law as its first order of business this year, and passing it with nearly unanimous bipartisan support."
Under the federal program, TRIA would be extended until year-end 2020, and in the event of a catastrophic terrorist attack, gradually increase the loss threshold that triggers federal assistance, from $100 million to $200 million.
About The Real Estate Roundtable
The Real Estate Roundtable brings together leaders of the nation’s publicly-held and privately owned real estate ownership, development, lending and management firms with the leaders of national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy. Collectively, Roundtable members' portfolios contain over 12 billion square feet of office, retail and industrial properties valued at more than $1 trillion; over 1.5 million apartment units; and in excess of 2.5 million hotel rooms. Participating trade associations represent more than 1.5 million people involved in virtually every aspect of the real estate business..
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