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ABC News: Senators seek further delay on asbestos bill
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Senators seek further delay on asbestos bill
ReutersNov 15, 2005 — WASHINGTON (Reuters) - Senate Budget Committee leaders are
seeking to further delay action on legislation to create a $140
billion fund to compensate asbestos victims, saying in a letter
released on Tuesday that they are worried the program could run
short of money.
"There are potentially serious costs to federal taxpayers
from this legislation," the committee's chairman, New Hampshire
Republican Sen.
Judd Gregg, and ranking Democrat, Sen.
Kent
Conrad of North Dakota, said in a letter to Senate leaders.
Since the proposed asbestos compensation fund would have
the authority to borrow money from the U.S.
government, it
could deepen the federal budget deficit if it runs short of
cash, Gregg and Conrad said.
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"We ask that at least until these issues are fully
resolved, that the Senate not take any further action on the
legislation," they said in a letter to Senate Majority Leader
Bill Frist, a ...