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The Senate bill, sponsored by Sen. Charles E. Schumer, New York Democrat, would keep the current plan largely intact, although it would increase the share of insured losses paid for by private insurance and direct the government to study the effects of premiums collected through the program. . (AP Photo/Lauren Victoria Burke)

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Fireworks light up the Empire State and Chrysler buildings along the Manhattan skyline during Macy's 37th Annual Fourth of July fireworks show in New York. (AP Photo/John Minchillo)

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The American flag and Wall St. street sign outside the New York Stock Exchange, in New York. (AP Photo/Mark Lennihan, File)

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Rep. Charles Rangel, New York Democrat, takes questions from reporters in New York on June 23, 2014. (Associated Press) **FILE**

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Gen. Raymond T. Odierno, Sgt. Mary Herrera, tenor Anthony Kearns, and Kirsten Fedewa of Kirsten Fedewa & Associates (from left) pose during the 239th United States Army Birthday Gala in New York on June 12. (Courtesy of Kirsten Fedewa & Associates LLC/Mikki L. Sprenkle, photographer of the Chief of Staff, U.S. Army)