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courant.com | Fund For Asbestos Victims May Not Clear Senate
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BUSINESS
Fund For Asbestos Victims May Not Clear Senate
February 7, 2006
By JAMES ROWLEY, Bloomberg News
WASHINGTON -
The U.S.
Senate may block a proposed $140 billion fund for asbestos victims that has drawn opposition from companies such as Exxon Mobil Corp.
and BorgWarner Inc.
and lawmakers in both parties.
The companies, along with insurers, are fighting the fund because they say they would pay too much to finance it.
The legislation has generated as much opposition from Republicans as from Democrats, even though the top Senate Republican, Majority Leader Bill Frist, has called it a priority and brought it up for debate on Monday.
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Supporters of the fund, such as USG Corp., the world's largest wallboard maker, say the legislation would end costly litigation that puts too much money in the pockets of trial lawyers and l...
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