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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...

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SEARCH ENTIRE SITE Powered by: Asbestos bill stirs controversy by: Adam Schrager 9NEWS Reporter Created: - Updated: ADVERTISEMENT Coloradans who have been victimized by asbestos poisoning are speaking out against legislation pending in the United States Senate to create a privately funded $140 billion asbestos trust fund.

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9News Reporter Adam Schrager says both sides of the issue have lobbied for support in Colorado.

5 p.m.

February 7, 2006.

In exchange for guaranteeing payments to known victims, the measure would prohibit any further lawsuits from being filed.

Both sides have bombarded Coloradans with television commercials in recent weeks to sway public opinion.

"Those last few days, all I wanted for him was to die and be relieved from the burden of pain," said Carolyn Benton, whose husband Barry died from an asbestos-related cancer three years ago.

"The companies that produced asbestos should be held accountable for killing so many innocent people." Benton and other victims gathered at the State Capitol Tuesday to lobby Senator Ken Salazar (D-Colorado) to vote down S.

852 (The Fairness in Asbestos Injury Resolution or FAIR Act) which is expected to come before senators in the next few weeks.

Senator Wayne Allard (R-Colorado) has announced his support for the fund.

Supporters say the fund will get needed money to asbestos victims faster than ha...

... U.S.

Senate votes to move ahead on asbestos bill U.S.

Senate votes to move ahead on asbestos bill Staff and agencies08 February, 2006 By Susan Cornwell 2 hours, 17 minutes ago WASHINGTON - The United States Senate on Tuesday voted overwhelmingly to consider a bill to halt asbestos lawsuits and create a $140 billion fund for people suffering from asbestos-related diseases, but many hurdles to the bill‘s approval remained.

For years, asbestos fibers were widely used for their insulating and fire-retardant capabilities, but they are linked to lung-scarring diseases, including cancer.

Hundreds of thousands of asbestos injury claims have been filed, helping to push into bankruptcy some 70 U.S.

companies, including W.R.

Grace & Co.

and USG Corp..

Bill supporters won an important victory on Tuesday with the 98-1 defeat of a procedural attempt to kill it.

The lopsided vote came after Senate Minority Leader Harry Reid, a Nevada Democrat, dropped his objections and encouraged others to join him in bringing the measure to the floor.

The bill‘s co-sponsor, Pennsylv, , ), said he knew other threats could still prove fatal to the controversial legislation.

"There are lot of people against this bill who will use every opportunity they can find to defeat it, so I am prepared for anything," he told reporters.

Reid, whose earlier objection had forced Tuesday‘s procedural vote, made clear his decision to back debate was in no way an endorsement of the bill.

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