December 7th, 2005

The proposed bill for the $140 billion trust fund for asbestos victims has been discussed at a recent Senate hearing, and criticism was made of reports that claim that the funding would run dry very quickly. The analysis and study made by Bates White was questioned by a medical director and an economist, both of whom have worked with asbestos related issues.

However, a number of senators have stated that certain questions needs to be answered and certain issued dealt with in order for the bill to be taken up and a compensation plan to be determined. One senator stated: "If this isn't known before the New Year, I don't know how we can consider this bill on the floor in January."

The bill is likely to be one of the first issues to go before the chamber in the New Year. The recent study and analysis, which was released in September, claimed that the funds would run dry in a matter of just several years based on the level and size of the claims that would be made against it.

However, Denise Martin, senior vice president at the National Economic Research Associates in New York, stated that the study and analysis "grossly overestimated the population at risk from asbestos disease."