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S4395119th CongressWALLET

Terrorism Risk Insurance Program Reauthorization Act of 2026

Sponsored By: Senator McCormick, David [R-PA]

Passed Senate

Summary

Extends the federal terrorism-insurance backstop to 2034. It keeps the Terrorism Risk Insurance Act framework in place and moves the schedule for mandatory recoupment of federal payments into the late 2020s and early 2030s.

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  • Insurers: Companies that rely on the TRIA backstop keep that federal support through 2034, preserving the program’s availability for the insurance market.
  • Businesses and policyholders: Buyers of terrorism coverage face no changes to eligibility and still have access to the TRIA framework under the new termination date of 2034.
  • Federal recoupment timing: The law updates several recoupment dates in TRIA so mandatory repayment triggers occur later, pushing those dates into the late 2020s and early 2030s.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Business terrorism insurance backstop through 2034

If enacted, the bill would extend the federal terrorism risk insurance backstop from 2027 to 2034. It would move Treasury’s mandatory recoupment dates later: earlier triggers in 2022–2024 and 2029 would be replaced with 2029–2031 and 2036. If mandatory recoupment applies, any policy surcharges used to repay federal costs would be billed in those later years. It would not change who can buy coverage or set new funding amounts.

Sponsors & CoSponsors

Sponsor

McCormick, David [R-PA]

PA • R

Cosponsors

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 4/27/2026

  • Sen. Cortez Masto, Catherine [D-NV]

    NV • D

    Sponsored 4/27/2026

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 4/27/2026

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 4/27/2026

  • Sen. Crapo, Mike [R-ID]

    ID • R

    Sponsored 4/27/2026

  • Sen. Warnock, Raphael G. [D-GA]

    GA • D

    Sponsored 4/27/2026

  • Sen. Rounds, Mike [R-SD]

    SD • R

    Sponsored 4/27/2026

  • Sen. Blunt Rochester, Lisa [D-DE]

    DE • D

    Sponsored 4/27/2026

  • Sen. Hagerty, Bill [R-TN]

    TN • R

    Sponsored 4/27/2026

  • Sen. Schumer, Charles E. [D-NY]

    NY • D

    Sponsored 4/27/2026

  • Sen. Banks, Jim [R-IN]

    IN • R

    Sponsored 4/27/2026

  • Sen. Moreno, Bernie [R-OH]

    OH • R

    Sponsored 4/27/2026

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 4/27/2026

  • Sen. Smith, Tina [D-MN]

    MN • D

    Sponsored 4/27/2026

  • Sen. Tillis, Thomas [R-NC]

    NC • R

    Sponsored 4/27/2026

  • Sen. Gallego, Ruben [D-AZ]

    AZ • D

    Sponsored 4/27/2026

  • Sen. Scott, Tim [R-SC]

    SC • R

    Sponsored 4/27/2026

  • Sen. Kim, Andy [D-NJ]

    NJ • D

    Sponsored 4/27/2026

  • Sen. Kennedy, John [R-LA]

    LA • R

    Sponsored 4/27/2026

  • Sen. Van Hollen, Chris [D-MD]

    MD • D

    Sponsored 4/27/2026

  • Sen. Britt, Katie Boyd [R-AL]

    AL • R

    Sponsored 4/27/2026

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 4/27/2026

  • Sen. Sheehy, Tim [R-MT]

    MT • R

    Sponsored 5/19/2026

  • Sen. Padilla, Alex [D-CA]

    CA • D

    Sponsored 5/19/2026

  • Sen. Capito, Shelley Moore [R-WV]

    WV • R

    Sponsored 6/4/2026

  • Sen. Gillibrand, Kirsten E. [D-NY]

    NY • D

    Sponsored 6/4/2026

  • Sen. Boozman, John [R-AR]

    AR • R

    Sponsored 6/9/2026

  • Sen. Baldwin, Tammy [D-WI]

    WI • D

    Sponsored 6/9/2026

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 6/15/2026

  • Sen. Rosen, Jacky [D-NV]

    NV • D

    Sponsored 6/15/2026

  • Sen. Risch, James E. [R-ID]

    ID • R

    Sponsored 7/20/2026

  • Sen. Blumenthal, Richard [D-CT]

    CT • D

    Sponsored 7/20/2026

  • Sen. Moran, Jerry [R-KS]

    KS • R

    Sponsored 7/29/2026

  • Sen. Schatz, Brian [D-HI]

    HI • D

    Sponsored 7/29/2026

  • Sen. Daines, Steve [R-MT]

    MT • R

    Sponsored 8/3/2026

  • Sen. Hirono, Mazie K. [D-HI]

    HI • D

    Sponsored 8/3/2026

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 9/15/2026

  • Sen. Kaine, Tim [D-VA]

    VA • D

    Sponsored 9/15/2026

  • Sen. Fischer, Deb [R-NE]

    NE • R

    Sponsored 9/17/2026

  • Sen. King, Angus S., Jr. [I-ME]

    ME • I

    Sponsored 9/17/2026

  • Sen. Luján, Ben Ray [D-NM]

    NM • D

    Sponsored 9/24/2026

  • Sen. Budd, Ted [R-NC]

    NC • R

    Sponsored 9/24/2026

Roll Call Votes

No roll call votes available for this bill.

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