Madam Speaker, I rise in strong support of the Terrorism Risk Insurance Revision and Extension Act of 2007.  This critical bill reauthorizes the federal terrorism insurance program, which backs up private insurers in the event of a terrorist attack, and extends the measure for 15 years.

As Chairman of the Homeland Security Subcommittee on Emerging Threats, Cybersecurity, and Science and Technology, I am pleased that this bill would ensure coverage in the event of a nuclear, biological, chemical, or radiological attack.

While no one wants to imagine an NCBR event, the possibility is, unfortunately, a reality.  Therefore, we must not only protect against this risk, but ensure that our nation can recover financially if the unthinkable happens. 

This measure takes an important step forward by lowering the deductible from 20% to 3.5% for insurance coverage against NCBR attacks. 

I am proud to support this measure and I thank Chairman Frank for his leadership on this important issue.