February 17th, 2006
This week lawmakers will be launching a debate on the asbestos trust fund designed to compensate those affected by asbestos exposure and phase out the court based system.
The $140 billion trust fund is at the center of controversy, as all previous trust fund proposals have been in the past. Some lawmakers believe that the court based system should remain in place, and this means that the future of the bill remains uncertain.
The bill’s success may be further marred by republicans, who want asbestos litigation to remain a private sector problem rather than becoming a congressional one. The bill will need 60 votes in order to break a filibuster, the senators involved with the bill state that they will continue the attempt to push through the bill as it will compensate victims as well as protecting businesses and lightening the load on the courts.
One of the senators involved, Arlen Specter, stated: "If this becomes law, it will become a tremendous boom to the economy. The point that I continually make is: If somebody's got a better bill, let's hear it. If somebody's got a better bill, I'll support it."
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