01 — The Text
What.
- Extends the Terrorism Risk Insurance Program through 2034, letting private insurers pass terrorism-related losses to the federal government.
- Raises the threshold of insurance losses required to trigger the program starting in 2029—specific dollar amount not disclosed in summary.
- Gives the Treasury Department explicit authority to publicly explain how it determines whether attacks qualify as terrorism under the program.
02 — The Stakes
So what?
- Insurers and policyholders benefit: companies can cover terrorism risk without abandoning the market; businesses and property owners get continued access to coverage.
- Taxpayers shoulder some terrorism losses indirectly through federal backing, creating a public-private risk share.
- The higher 2029 threshold may reduce federal exposure but could narrow coverage for some policyholders depending on final dollar amounts.
03 — The Path
Now what?
- Bill passed the House on June 29, 2026 with overwhelming bipartisan support (373-15). Now heads to the Senate for consideration.
- Senate can vote on the bill as-is, amend it, or let it stall—timing depends on their legislative calendar.
- Track Senate status at Congress.gov or contact your senator to express support or concerns about federal terrorism insurance policy.
Legislative History
Actions.
- Jun 29, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Jun 29, 2026 — On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 373 - 15 (Roll no. 229). (text: CR H4273-4274)
- Jun 29, 2026 — Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 373 - 15 (Roll no. 229). (text: CR H4273-4274)
- Jun 29, 2026 — Considered as unfinished business. (consideration: CR H4302-4303)
- Jun 29, 2026 — At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
- Jun 29, 2026 — DEBATE - The House proceeded with forty minutes of debate on H.R. 7128.
- Jun 29, 2026 — Considered under suspension of the rules. (consideration: CR H4273-4279)
- Jun 29, 2026 — Mr. Flood moved to suspend the rules and pass the bill, as amended.