Terror insurance bill in limbo

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Friday, Oct. 18, 2002 | 10:56 a.m.

WASHINGTON -- House and Senate negotiators moved closer to inking a final agreement on a $100 billion terrorism insurance package that lawmakers hope will stimulate the economy and help cover the cost of insurance against future terrorist attacks.

But time ran out as the Senate left Washington on Thursday to do last-minute campaigning before the Nov. 5 election. House lawmakers departed a day earlier.

Lawmakers worked until the final minutes, but were unable to get the final House and Senate leadership signatures on a compromise negotiators said would have the government cover 90 percent of all terror losses after insurance companies pay an initial amount of $10 billion.

President Bush signed a temporary spending bill today providing operating funds until Nov. 22 for most government programs -- but at last year's spending levels.