US Taxpayers Protected From Financial Losses Related to Terrorism: Senator

US Senator announced that the Terrorism Risk Insurance Act passed by the US Senate this week will protect Americans from the financial risk of terrorist attacks.

WASHINGTON, January 9 (Sputnik) — The Terrorism Risk Insurance Act (TRIA) passed by the US Senate this week will protect Americans from the financial risk of terrorist attacks, US Senator Mark Kirk has announced.

"TRIA protects the taxpayer from incurring huge financial risk in the event of a terror attack, and I am relieved this protection will continue," the senator said in a statement Thursday.

In a 93-4 vote on Thursday, the Senate approved legislation that stipulates the US government repaying business costs after a terrorist attack, if it causes damage worth more than $100 million.

"The passage of TRIA ensures that our skylines will no longer suffer due to the threat of terrorism," Kirk stressed.

TRIA was first enacted in 2002 following the September 11 terrorist attacks of 2001. It was last reauthorized in 2007, but the legislation expired at the end of 2014.

On Wednesday, the US House of Representatives passed the TRIA bill, but it still needs to be signed by US President Barack Obama to become law.