Senate Democrat Leader Declares Terror Insur Bill `Dead'

Dow Jones ^ | July 24, 2002 | Dow Jones

[jern]

Senate Democrat Leader Declares Terror Insur Bill `Dead'

WASHINGTON -(Dow Jones)- Senate Majority Whip Harry Reid, D-Nev., declared a terrorism insurance bill in the Senate dead after failing Tuesday night to get an agreement with Republicans that would allow the legislation to proceed to negotiations with the House. "As far as I'm concerned, this bill is dead. I am not putting the unanimous consent request in my desk anymore; I am putting it in the garbage can and we will see what happens," Reid said on the Senate floor late Tuesday.

While the Senate and House have both passed bills that create a temporary federal terrorism insurance program, both chambers need to appoint negotiators to a conference committee to work out their differences before the legislation can reach final passage. Reid aired his frustration after Senate Republicans objected to a motion to appoint negotiators.

Reid also lashed out at the insurance industry for not pressuring Republicans to allow the conference to proceed.

"If the role were reversed and we, the Democrats, were holding up the appointing of conferees on a terrorism insurance bill, our phones would be ringing. We would have petitions," Reid said. "But because it is the insurance industry, which is a little closer to the minority than we are, nothing happens."

Reid said he will not try to seek a new agreement with Republicans.

"I guess they expect me and (Senate Majority Leader Thomas) Daschle, D-S.D., to come and offer this unanimous consent request. No more. They can do it. In the meantime, terrorism insurance is dead. Nothing is going to happen," Reid said.

Reid also said he was disappointed with President George W. Bush, whose weekend radio address called on Congress to deliver a terrorism insurance bill to his desk.

Bush said in his radio address that commercial development is stalling as the lack of adequate and affordable terrorism insurance since the Sept. 11 attacks has delayed or killed about $8 billion in commercial property financing.

Daschle also blamed Republicans for the delay on the bill.

"What could be so hard about naming names and appointing conferees?" Daschle said Wednesday. "We keep getting rebuked. We'll keep trying."

Even if the Senate appoints its negotiators this week, the terrorism insurance legislation isn't going any where until September at the earliest. The House is scheduled to begin a month-long August recess at the end of this week; the Senate is scheduled to do the same next week.

-By Dawn Kopecki, Dow Jones Newswires; 202-862-6637; dawn.kopecki@dowjones.com (Rob Wells contributed to this story.) (This story was originally published by Dow Jones Newswires) Copyright (c) 2002 Dow Jones & Company, Inc. All Rights Reserved

[eureka!]

F you, Jim Jeffords. This cr*p is getting old...

[Dog]

This one will hang them.....when Al-Qaeda hits an American city with a dirty nuke..

[SpinyNorman]

"What could be so hard about naming names and appointing conferees?" Daschle said Wednesday. "We keep getting rebuked. We'll keep trying."

How about this: "What could be so hard about naming names and appointing federal judges?" Bush said Wednesday. "We keep getting rebuked. We'll keep trying."

I am sure little Tommy never worked so hard in his life!!

[b4its2late]

Have the dems dug themselves deep enough to start throwing dirt on them?

[OldFriend]

If only we could get the dems to jump into the garbage can too!

[Faraday]

We'll see. I don't think the Dems can maintain this position. It will not only shut down a large amount of private sector construction, but a good deal of government activity as well.