NU Online News Service, May 6, 3:08 p.m.EDT--The chairman of the Senate Banking Committee saidthat Congress should very carefully consider the need to extend theTerrorism Risk Insurance Act, and what form that extension shouldtake, if any.
The comments of Sen. Richard Shelby, R-Ala., were interpreted byone industry lobbyist as supporting the position of Rep. Tom DeLay,R-Texas, the House majority leader.
Mr. DeLay has argued that Congress should look at a long-termsolution involving a federal backstop specifically for nuclear,biological, chemical and radiation risks, but rejects extending thecurrent program for two more years to cover other terror acts.
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