WASHINGTON – The Senate has approved legislation to renew a federal program that is credited with reviving the market for insurance against terrorist attacks after its collapse in the aftermath of the 9/11 attacks.
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The sweeping 93-4 vote sends the measure to Obama, who is expected to sign it into law despite reservations about an unrelated provision that chips away at new regulations on financial instruments called derivatives. The House passed the measure on Wednesday.
The measure was a leftover from last year that became snagged in the waning days of the last session of Congress and it's the first piece of legislation to pass the Senate since Republicans took control of the chamber on Tuesday.