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Asbestos Fund Faces Hurdles After a U.S.
Senate Test (Update3) 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.
After voting 98-1 yesterday to permit consideration of the
plan, the Senate began debate on the legislation today, the first
time the measure has advanced that far since it was approved by
the Judiciary Committee in 2003.
Democrats previously blocked
floor debate, and senators of both parties are raising 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 question...
Read more...