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Consumer Rebound May Lift U.S.
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Senate Democrats Say U.S.
Asbestos Fund Would Run Out of Money Feb.
9 (Bloomberg) - A company-financed plan to help
victims of asbestos exposure would run out of money after about
10 years and taxpayers would be forced to make up the shortage,
says the top Democrat on the U.S.
Senate Budget Committee.
North Dakota Senator Kent Conrad predicted the proposed
$140 billion fund would fall $150 billion short over the 50-year
life of the trust.
Contributions from companies that made
asbestos products and their insurers wouldn't be enough to pay
all the claims, he said.
The Senate began debating the legislation yesterday and
hasn't set a timetable for completing action on the measure,
which faces serious obstacles.
The bill would end asbestos
lawsuits that have forced almost 80 companies into bankruptcy,
including Chicago-based USG Corp...
Read more...