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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