Last week, the House of Representatives passed legislation extending the "temporary" federal terrorism insurance program. Normally this legislation would sail through the Senate, but retiring Senator Tom Coburn is delaying consideration of the bill because of his objections to a new expansion of federal power hidden in the legislation.
The provision in question creates a new national clearing house establishing national standards for insurance agents. If you’re wondering where in the Constitution the federal government gets the authority to play any role in licensing insurance agents the answer is no where.
Senator Coburn is delaying the final vote on the bill until Senate Majority Leader Harry Reid agrees to hold a vote on Senator Coburn’s amendment allowing states to opt-out of the new insurance licensing program.
Campaign for Liberty members who think states should be able to opt-out of the new federal insurance licensing program can still call their Senators and tell them to support Senator Coburn's efforts.
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PDFTags: Congress, lame duck, federalism, terrorism insurance