February 14th, 2005
The introduction of the asbestos trust fund legislation has seen yet another delay, following a request fro, Senate Majority Leader Bill Frist. Frist has requested a further one week delay to allow the evaluation and discussion of some of the provisions in the asbestos trust fund bill. This follows another recent postponement, which came about due to Democratic objections to parts of the legislation.
Sen. Arlen Specter, a Pennsylvania Republican, has not provided further details of the concerns raised by republicans or democrats. He did state: "I had intended to submit this legislation late last week, but I was asked by the Majority Leader to defer for a week, so further consideration could be given by the majority leader and members of the Judiciary Committee. It would be my request to my colleagues that the matter be examined and studied. We are going to have to move forward on it one way of another if the matter is to be taken up at an early date."
Specter, who has been developing the latest legislation for some months, hopes that the bill can be introduced next month, telling senators that this delay is the last and best chance to raise any concerns about the bill. Other republicans are concerned that democrats keep finding fault with the bill every time is looks as though the legislation has been settled.
Asbestos compensation claims have rocketed over recent years, forcing many companies into bankruptcy. This bill is designed to replace court action lawsuits, as the $140 billion in the fund will be used to compensation injured parties.
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