WASHINGTON – A proposal to extend and modify the Terrorism Risk Insurance Act divided the House Financial Services Committee down party lines on Thursday, as lawmakers weighed the need for greater taxpayer protection against the economic harm of a terrorist attack.

The fractured discussion over Rep. Randy Neugebauer’s bill to reauthorize the terrorism risk insurance program comes in sharp contrast to the Senate Banking Committee’s unanimous vote on its own TRIA legislation earlier this month, which includes different, more moderate, changes to the program.

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