$140 Billion Asbestos Bill May Die

A proposal for a $140 billion asbestos compensation fund will be put in the "deep freeze" unless lawmakers soon agree on the details, Senate Judiciary.

Specter, author of the draft bill to take asbestos injury claims out of court and pay them from the fund, said the proposal is at a critical stage and would be removed from his committee's agenda in the next few weeks if feuding continues on the fund's size and other issues.

"Now is the breakpoint," he said in an opinion article published in The Washington Times newspaper. "Prompt compromises will have to be forthcoming if this critical legislation is to become law or relegated to the deep freeze."

Asbestos was widely used for fireproofing and insulation until the 1970s. Scientists say its inhaled fibers are linked to cancer and other diseases.

[Read More]

Folksonomies

asbestos compensation specter fireproofing insulation pennsylvania republican bankruptcy federal-mogul grace bush senate