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U.S.
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Asbestos Fund Blocked in U.S.
Senate on Test Vote (Update3) Feb.
14 (Bloomberg) - A proposed $140 billion fund for
asbestos exposure victims was blocked in the U.S.
Senate as it
failed to overcome an objection that the company-financed plan
would cost taxpayers billions of dollars.
Supporters fell one vote short of the required 60 votes to
waive a budget rule barring legislation that increases government
spending by $5 billion in any of four decades after 2016.
Senate
Majority Leader Bill Frist held out a slim hope that the measure
might be revived because of the absence of one senator, Democrat
Daniel Inouye of Hawaii.
The Senate vote was 59-41 to waive the budget requirement,
meaning that Inouye could be in position to cast the 60th and
decisive vote to reconsider the fund if there is another roll
call.
The chief sponsors of the bi...
Read more...