Statement by the President

Terrorism insurance is critical to promoting and protecting jobs and America's economic security. I am pleased that the Senate has now passed a bill that will help give businesses access to reasonable terrorism insurance. The final terrorism insurance package must include reasonable litigation procedures so that Americans who are victimized by terrorism do not also fall victim to predatory lawsuits and punitive damages. I look forward to working with the House and Senate conferees so that I can sign responsible terrorism insurance legislation into law.

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