WASHINGTON–House action originally scheduled for Tuesday on legislation to extend federal supports for terrorism insurance has been delayed to Sept. 17 in a wrangle over cost issues involved with the measure, sources said.
The Congressional Budget Office in a report has estimated the legislation would cost more than $8 billion over 10 years, leading a consumer group to condemn the legislation as a grab for taxpayers money.
Originally, the bill, H.R. 2761, was due to be on the floor Sept. 11, on the anniversary of the 2001 terrorist attacks, at the same time Congress has a list of priority measures to work on before the current fiscal year closes Sept. 30. Congress will recess at noon Wednesday until Sept. 17 because of the Jewish New Year.
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