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Capitol on Tuesday to plead for and against an asbestos compensation bill ahead of a Senate vote that aides said was too close to call.

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 push into bankruptcy some 70 U.S.

companies, including W.R.

Grace & Co.

and USG Corp.

A sponsor of the controversial Senate measure, Arlen Specter, appealed to colleagues not to kill the bill to halt asbestos lawsuits and create a $140 billion fund for compensating asbestos victims.

A key procedural vote in the Senate was set for 6 p.m.

EST.

"I t...

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Senate leaders sought the 60 votes needed to begin debate on a proposed $140 billion fund for asbestos victims that is aimed at ending lawsuits that have bankrupted wallboard maker USG Corp.

and 76 other companies The measure, which has the support of at least five Democrats, requires the backing of three-fifths of the Senate for debate to begin.

Republicans control the Senate 55-45.

Senate Democratic leader Harry Reid of Nevada forced the vote on permitting debate by objecting to consideration of the legislation.

He said it would benefit companies at the expense of people who became sick from asbestos exposure.

The vote will take place at 6 p.m.

New York time, Senator Arlen Specter, the bill's chief sponsor, called Reid ``obstructi...

... Reuters Business Channel RSS By Susan Cornwell WASHINGTON, Feb 7 (Reuters) - Military veterans and victims of asbestos-related diseases fanned out in the U.S.

Capitol on Tuesday to plead for and against an asbestos compensation bill ahead of a Senate vote that aides said was too close to call.

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 push into bankruptcy more than 70 U.S.

companies, including W.R.

Grace & Co.

(GRA.N: Quote, Profile, Research) and USG Corp.

(USG.N: Quote, Profile, Research).

A sponsor of the controversial Senate measure, Arlen Specter, appealed to colleagues not to kill the b...