U.S. Chamber of Commerce,

                                    Washington, DC, June 29, 2026.
       To the Members of the House of Representatives: The U.S.
     Chamber of Commerce supports H.R. 7128, the ``TRIA Program
     Reauthorization Act of 2026.'' This legislation would provide
     for a reauthorization of the Department of the Treasury's
     Terrorism Risk Insurance Program through 2034. It is vital
     that Congress reauthorize the Terrorism Risk Insurance Act
     (TRIA) well in advance of its expiration at the end of 2027,
     so businesses that rely on the program can remain confident
     it will not lapse.
       Since its enactment in 2002, TRIA has served as a critical
     public-private risk-sharing mechanism, ensuring the
     commercial availability of terrorism risk insurance and
     enabling a more resilient economic recovery in the event of a
     terrorist attack. The proactive reauthorization of TRIA is
     vital to ensuring long-term financial safety and stability,
     providing businesses across the country with the necessary
     support and certainty to manage the unique risks associated
     with terrorism-related events.
       This legislation includes changes to the event
     certification process and other technical adjustments. While
     the Chamber would prefer a clean reauthorization of the
     program, we recognize the importance of ensuring this
     critical economic backstop remains in place without
     disruption. We commend the House Financial Services Committee
     for acknowledging the necessity of this program and advancing
     the legislation with an overwhelming bipartisan vote of 51 to
     2.
       The Chamber urges you to support TRIA's vital mission by
     voting for this important legislation, and we look forward to
     working with Congress to ensure timely reauthorization.
           Sincerely,

                                               Foxhall Parker,

                                                  Senior Director,
     Center for Capital Markets Competitiveness.
                                  ____

                                                     June 29, 2026
     Re CREFC Support for H.R. 7128, the TRIA Program
         Reauthorization Act of 2026.

     Hon. French Hill,
     Chairman, House Committee on Financial Services.
     Hon. Mike Flood,
     Chairman, Subcommittee on Housing and Insurance.
     Hon. Maxine Waters,
     Ranking Member, House Committee on Financial Services.
     Hon. Emanuel Cleaver II,
     Ranking Member, Subcommittee on Housing and Insurance.
       Dear Chairman Hill, Ranking Member Waters, Chairman Flood,
     and Ranking Member Cleaver: On behalf of the CRE Finance
     Council (CREFC), the trade association representing the over
     $6 trillion commercial real estate finance industry, we write
     to express our strong support for H.R. 7128, the TRIA Program
     Reauthorization Act of 2026, and to thank you for your
     leadership in advancing this important bipartisan
     legislation.
       Terrorism risk insurance is a key underwriting requirement
     across nearly every segment of commercial real estate
     finance, including loans held on balance sheet and those
     securitized in CMBS transactions. Lenders, servicers, and
     investors rely on the continued availability of the federal
     Terrorism Risk Insurance Program to ensure affordable
     coverage remains accessible to commercial property owners,
     with that certainty reflected directly in loan underwriting,
     pricing, and securitization documents. Any lapse, or even the
     prospect of one, introduces unnecessary uncertainty into the
     capital markets that finance the nation's office,
     multifamily, industrial, retail, and hospitality properties.
       H.R. 7128 would extend the Program through 2034, providing
     the long-term certainty our members and their borrowers need
     to plan and invest with confidence.
       We appreciate that this legislation has advanced with
     bipartisan support, and we urge the Committee and the full
     House to act swiftly to bring H.R. 7128 to the floor for
     passage. CREFC and its members stand ready to serve as a
     resource to the Committee and staff as this legislation moves
     forward.
       Thank you for your continued leadership on this issue.
           Sincerely,
     CRE Finance Council.
                                  ____

  Mr. FLOOD. Mr. Speaker, I urge all of my colleagues to support this
bill, and I reserve the balance of my time.
  Mr. CLEAVER. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise to support H.R. 7128, the TRIA Program
Reauthorization Act of 2026, sponsored by Representative Flood.
  I am pleased that today we are considering this critical legislation
to reauthorize the Terrorism Risk Insurance Program for 7 years. This
is a bipartisan bill, as it has been in past reauthorizations.
  I first thank Chairman Hill, Ranking Member Waters, Representative

Flood, and our staffs for working to ensure long-term certainty and
availability of affordable terrorism risk insurance all across the
country, which small businesses, hospitals, universities, not-for-
profits, and others rely on.
  TRIA was first enacted after the September 11 terrorist acts. After
the attack, terrorism risk insurance all but disappeared, and any
coverage that could be found was extremely expensive. Without terrorism
insurance, commercial reconstruction in New York stalled, raising the
threat of larger economic fallout.
  In response, Congress passed TRIA in 2002 to provide certainty for
insurers and policyholders and access to terrorism risk insurance by
creating a Federal backstop in the event of catastrophic losses. Since
then, the program has effectively done just that.
  As we look back nearly 25 years since 9/11, it is important to
recognize the Federal Government's role in supporting economic
development through TRIA. In our role in Congress, as stakeholders, we
unanimously agree with that act.
  TRIA is set to expire at the end of 2027. By reauthorizing the
program ahead of that deadline, it will offer desperately desired
certainty to policyholders moving forward.
  This legislation will provide a long-term reauthorization through
2034 and make targeted but sensible updates to the program. The bill
would increase the threshold to certify an individual terrorism event
to require more than $10 million in property and casualty insurance
losses from the current level of more than $5 million. It would also
codify the existing regulatory requirement that Treasury provides
public notice in the Federal Register within 30 days of beginning the
process of certification determination and require Treasury to issue
its determination within 90 days of that notice.
  To address minor technical feedback from Treasury, the bill will now
allow the Secretary of the Treasury to extend the review period for an
additional 365 days if there is insufficient information at the time to
determine certification.
  I also thank Congresswoman Velazquez and Congresswoman Pressley for
their efforts on the bill, as their communities were directly impacted
by tragedies caused by terrorism.
  Mr. Speaker, I urge all of my colleagues to support this essential
legislation, and I reserve the balance of my time.
  The SPEAKER pro tempore. Without objection, the gentleman from
Arkansas (Mr. Hill) will control the remainder of the time for the
majority.
  There was no objection.
  The SPEAKER pro tempore. The gentleman from Arkansas is recognized.
  Mr. HILL of Arkansas. Mr. Speaker, I yield myself such time as I may
consume.
  Mr. Speaker, let me thank Chairman Flood and Ranking Member Cleaver
of the subcommittee and certainly our full committee ranking member,
Ms. Waters, for their work with the majority to craft this extension of
the Terrorism Risk Insurance Act.
  The reauthorization of this program is important. I thank, on a
bipartisan basis, those who have worked to bring it to fruition.
  Every Member of this body, Mr. Speaker, including you, my friend,
knows where they were on September 11, 2001. That day changed
everything, including how America thought about risk. Before those
attacks, the private insurance market handled terrorism risk like any
other. After 9/11, no insurer could price it or absorb it alone.
  Congress subsequently created TRIA in 2002. The purpose of TRIA is
spelled out in the original law. Section 101(b) states that TRIA is
designed to provide for ``a transparent system of shared public and
private compensation for insured losses resulting from acts of
terrorism in order to protect consumers.''
  That is the goal here, to give policyholders access to the financial
protection and confidence they need to build skyscrapers, sports
venues, and malls, and employ workers that drive our economy.
  Each reauthorization is an opportunity to look at what is working and
what is not and to look at what adjustments are needed to keep
delivering market certainty and stability.