House Republicans delivered a sweeping bipartisan victory by extending America’s terrorism insurance backstop through 2034.
Lawmakers approved H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a commanding 373-15 vote.
The House acted under suspension of the rules, requiring two-thirds support and demonstrating unusual bipartisan agreement.
Republicans supplied 181 yes votes, while 191 Democrats and one independent also backed the legislation.
Fifteen Republicans opposed the measure, while no voting Democrat cast a ballot against the reauthorization.
Rep. Mike Flood, R-Neb., introduced the bill and chairs the Financial Services Subcommittee on Housing and Insurance.
The legislation now heads to the Senate, where a companion measure would also extend the federal program.
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Congress created TRIA after the September 11 terrorist attacks devastated insurers and threatened commercial insurance markets.
TRIA established a public-private framework intended to keep private insurers participating without making taxpayers responsible for ordinary losses.
Private insurers must offer terrorism coverage while absorbing significant losses before the federal government can assist.
Federal involvement begins only after a Treasury-certified act of terrorism satisfies the statutory requirements.
House Financial Services Chairman French Hill, R-Ark., said the program’s original mission remains straightforward.
“The purpose of TRIA is spelled out in the original law,” Hill said during House debate.
Hill said Congress designed the system to protect consumers while sharing catastrophic insured losses between government and private industry.
Flood argued Congress should preserve TRIA while strengthening taxpayer protections and making terrorism certification decisions more transparent.
“This legislation would reauthorize TRIA,” Flood said while explaining the measure’s central purpose.
The Nebraska Republican noted the program was originally established following the September 11, 2001, terrorist attacks.
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H.R. 7128 extends the program seven additional years, shifting its scheduled expiration from 2027 through 2034.
Flood also highlighted an extraordinary record: TRIA has never paid a claim during its entire existence.
“I hope that we never, ever see one,” Flood said regarding the possibility of a future federal claim.
He nevertheless argued taxpayers deserve stronger safeguards if catastrophic terrorism ever triggers the government-supported insurance backstop.
One significant reform raises the minimum insured-loss threshold for terrorism certification from $5 million to $10 million.
That higher threshold would begin in 2029, keeping smaller incidents further away from potential federal involvement.
Supporters say the change preserves TRIA for genuinely catastrophic events instead of allowing relatively limited losses to trigger Washington.
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The legislation also grants Treasury explicit authority to publicly explain its process for deciding whether incidents qualify.
Flood said Congress should ensure “the certification process is transparent” while maintaining protection against truly extraordinary losses.
Without predictable coverage, financing could become costlier or unavailable for high-profile buildings, crowded venues, and major metropolitan projects.
The American Bankers Association supports reauthorization, arguing long-term insurance certainty helps lenders confidently finance commercial real estate.
Industry testimony says September 11 generated approximately $60 billion in insured losses when measured in 2025 dollars.
Those losses were concentrated across business interruption, property and liability coverage, demonstrating terrorism’s ability to shock markets.
Supporters contend TRIA prevents catastrophic uncertainty from freezing private insurance while keeping routine risk primarily in private hands.
Federal reporting has found terrorism insurance generally remains available and affordable under the existing public-private framework.
Flood’s changes answer that concern by raising thresholds, protecting taxpayers and demanding greater transparency from federal decision-makers.
The bill’s 373-15 passage shows both parties broadly agree that terrorism risk remains a legitimate economic-security concern.
For conservatives, the measure pairs market stability with private-sector responsibility rather than creating an unlimited federal insurance guarantee.
It protects lenders and businesses while reserving federal intervention for exceptional attacks meeting clearly defined statutory requirements.
The Senate now controls the bill’s next step, with a companion proposal already introduced for consideration.
If senators approve H.R. 7128 unchanged, the measure could move directly toward President Donald Trump’s desk.
Supporters say early renewal avoids last-minute uncertainty before the current authorization expires at the end of 2027.
The measure also offers businesses certainty without requiring immediate new federal spending.
H.R. 7128 strengthens that shield while demanding higher thresholds, clearer government decisions and meaningful protection for American taxpayers.