2/28/2020 | By Jane Dollinger
Senator Mike Crapo (R-ID) and Congresswoman Maxine Waters (D-CA) were both announced as winners of the Small Investor Empowerment (SIE) Award during Nareit’s CEO Forum and Advocacy Day.
The SIE Award was established on behalf of all people who invest in, are employed by, or derive other benefits from REITs and publicly traded real estate companies.
It recognizes public servants who have demonstrated exceptional commitment to the ideals of free enterprise and economic opportunity for all Americans, which are embodied in REITs and REIT investment.
Senator Crapo and Congresswoman Waters both spearheaded the effort to move reauthorization of the Terrorism Risk Insurance Act – TRIA – through Congress and their respective committees.
As a result of their leadership, the House and Senate both passed TRIA reauthorization bills last year, preserving the benefits of TRIA through 2027. This reauthorization ensures that the terrorism risk insurance market will continue to function, and this essential coverage will continue to be available and affordable for all the industries that depend on it.
Previous winners of the SIE Award include Congressman Richard Neal (D-MA), Senator Johnny Isakson (R-GA), Congressman Kevin Brady (R-TX), and Senator Chuck Schumer (D-NY).
Senator Mike Crapo:
Senator Crapo is Chairman of the Senate Banking, Housing and Urban Affairs Committee, which he has been a member of since the beginning of his Senate service in 1999. He also is the second-ranking Republican on the Senate Finance Committee and a member of the bipartisan Joint Committee on Taxation.
In those important roles, the Senator demonstrated keen awareness and understanding of the contribution REITs make to the retirement security of millions of investors, as well as to the betterment of our communities and growth of our economy.
Senator Crapo also was an early supporter of FIRPTA reform and other legislation that have helped our industry meet the intent of its Congressional framers to make the benefits of real estate available to all investors.
Congresswoman Maxine Waters:
Congresswoman Waters represents California’s 43d Congressional District. She is serving her 15th term in the House, and she is Chair of the powerful House Financial Services Committee.
The House Financial Services Committee oversees the entire financial services industry, including the securities, insurance, banking, and housing industries.
It also oversees the work of the Federal Reserve, the Treasury Department, the SEC and other financial services regulators.
In her role as Chair of the committee, Congresswoman Waters has championed the interests of small investors and has been a strong supporter of legislation to ensure the stability of our financial institutions.