WASHINGTON--If Sen. Joe Biden, D- Delaware, is elected vicepresident, it would set off a domino effect making Sen. TimJohnson, D-S.D., chairman of the Senate Banking Committee nextyear, Senate Majority Leader Harry Reid, D-Nev., saidyesterday.
Such a change could help the cause of insurance industry sectorssupporting an optional federal charter for insurers because Sen.Johnson is a primary sponsor of Senate OFC legislation.
Sen. Johnson and Sen. John Sununu, R., N.H., are primarysponsors of S. 40, "The National Insurance Act of 2007," a billthat would give insurers the option of choosing between a statecharter and a federal charter.
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