Last week, the Commercial Real Estate Development Association joined 36 trade associations in sending a letter to House and Senate leadership supporting reauthorization of the Terrorism Risk Insurance Act (TRIA). For more than 23 years, TRIA has played a vital role in maintaining the insurance marketplace, and it is important that Congress reauthorize the program this year to preserve that stability.

The Senate is in session for one more week before beginning its annual state work period and is not expected to return to Washington, D.C., until Sept. 14. Republicans and Democrats are negotiating a continuing resolution to fund the government through Dec. 4. One sticking point is a proposed Office of Management and Budget rule that would give Trump administration political appointees greater authority over federal grants. The House is scheduled to return on Aug. 31, and the federal fiscal year ends on Sept. 30.