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Northwest Indiana News: nwitimes.com
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USG Corp.
awaits vote on asbestos bill
Bankrupt company said it has "alternative solution" if legislation fails
BY JENNIFER SUDICKMedill News Service
This story ran on nwitimes.com on Wednesday, February 8, 2006 12:51 AM CST
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The future of Chicago-based USG Corp.
and other asbestos users was on the line Tuesday as a long-awaited bill intended to compensate thousands of victims of asbestos-related diseases cleared its first procedural hurdle in the U.S.
Senate.Wallboard manufacturer USG, one of more than 70 U.S.
companies pushed into bankruptcy by floods of asbestos lawsuits, stood in strong support of the $140 billion trust-fund bill, named the Fairness in Asbestos Injury Resolution Act of 2005.
The fund would be financed by asbestos companies and insurance carriers over 30 years and administered by the federal government.
Asbestos fibers have been linked to serious lung diseases and cancer.Sen.
Arlen Specter, R-Pa., a cosponsor of the bill, said in a news conference Thursday that if the bill failed, he doubted there would be another.Later, senators voted overwhelmingly to permit debate on the measure, defeating an attempt by Democratic leader Harry Reid of Nevada to block the legislation."We have stated over and over ...
that Congress needs to fix this asbestos problem, and we agree with that and have s...
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