Oversight

Budget office paints grim fiscal portrait of flood insurance program

Program's debt was $17.5 billion as of May; Congress has authorized FEMA to borrow $20.8 billion from the Treasury.

Defense

Committee draft of terrorism coverage bill divides industry

Measure would reauthorize federal risk insurance program for 10 years and lower the program's trigger from the current $100 million to $50 million.

News

Study bolsters case for single federal regulator of life insurance

Industry would be able to save money by reducing the filing of regulatory reports, streamlining consumer complaints and undergoing fewer exams.

Defense

Financial services group backs disaster loan proposal

Group says Congress should allow Treasury to offer a line of credit to state insurance funds following a major crisis.

Defense

Coalition sets goals for federal terrorism insurance backstop

Proposal calls for a permanent extension of the program, the inclusion of acts of domestic terrorism and a trigger no higher than the current $100 million level for federal reimbursement.

Defense

Lawmaker unveils bill to overhaul flood insurance program

The 38-year-old program suffered massive losses in the aftermath of hurricanes Katrina and Rita.

Tech

Senator says Bush’s involvement key to immigration reform

Vermont senator would like to move on to other measures, including one to create a national standard for data security.

Defense

Group: Insurance profits show federal terrorism backstop unnecessary

Consumer advocates support a limited extension of terrorism risk insurance, for only nuclear, chemical and biological attacks.

Defense

Bill would target wartime contracting fraud

Current law makes it hard to build criminal cases against firms abusing taxpayers’ money on projects in Iraq, measure’s sponsor says.

Defense

Texas Democrat gets praise for immigration efforts

Lawyers who have worked with candidate to lead immigration subcommittee in the next Congress speak up on her behalf.

Defense

Senate Democrats select committee leaders

Joseph Lieberman of Connecticut will chair the Homeland Security and Governmental Affairs panel.

Defense

Dems must pick point person before immigration debate

Senate is likely to move legislation first because it already passed a comprehensive package earlier this year under Republican control.

News

Business group wants more money to fight intellectual piracy

Appropriators have been responsive, but spending bill with money for intellectual property rights enforcement has yet to be finalized.

Defense

Negotiators agree to cap interest rates for loans to military

Language added to Defense authorization bill is aimed at stopping unscrupulous payday lenders from targeting service members.

Defense

Report: Insurance industry is limiting terrorism coverage

Study will be highlighted by those advocating that Congress reauthorize the federal government's terrorism risk insurance program.

Defense

Battle lines form over terrorism insurance program’s future

Current program expires next year; administration has been skeptical of it, noting it carries the potential for a taxpayer bailout.

Defense

Compromise on immigration reform legislation appears elusive

House members attack less-punitive Senate measure allowing most of the estimated 11 million illegal immigrants to remain in the country while seeking permanent citizenship.

Defense

Lawmakers push insurance backstop for natural disasters

Program would be administered by the federal government and would need to hedge any risk exposure to protect taxpayers.

News

Lawmaker seeks to keep Mint from seizing rare coins

Rare coins coming into the Mint’s possession would need to be preserved rather than destroyed, as it has done in the past.

Defense

House loosens claims policy for debt-ridden flood program

Congress already has allowed FEMA to borrow $20.8 billion from the Treasury to pay claims from hurricanes Katrina and Rita.

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