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Asbestos Fund Faces Hurdles After a U.S.
Senate Test (Update1) Feb.
8 (Bloomberg) - A proposed $140 billion fund to help
asbestos victims and end lawsuits that have bankrupted almost 80
companies faces new obstacles after clearing its first hurdle in
the U.S.
Senate.
The Senate's 98-1 vote yesterday to permit consideration of
the plan marks the first time the legislation will be the subject
of a floor debate since it was approved by the Judiciary
Committee in 2003.
Democrats previously blocked floor debate, and
senators of both parties are poised to raise new complaints now.
One of those objections is a claim the plan violates budget
spending limits.
Under Senate rules, it would take 60 votes to
overcome any objection that the fund exceeds the budget cap.
``The bill before us is based on faulty and questionable
guesses...
Read more...