Senate Judiciary Chairman Arlen Specter is pledging
to wrap up committee consideration on May 26 of a bill
that would create a $140 billion trust fund designed
to reimburse claimants injured by asbestos exposure.
The committee voted on only two of dozens of the
pending amendments Wednesday during the fifth markup
session on the measure (S 852). But that did not dim
Specter's confidence that most of the others will
fall away. "It is my hope that we will [finish on May
26]," Specter said. Specter and ranking Democrat
Patrick J. Leahy of Vermont told colleagues it was
time to act. "At some point, you've got to vote and
get it out," Leahy said.
LETTER TO THE EDITOR: ASBESTOS VICTIMS' BILL
"Too often, the response to a bad law is to create
another, even worse law. That's what Senator Arlen
Specter is proposing to do to address the asbestos
litigation crisis ('Paying for Asbestos,' Op-Ed, May
16). Many businesses and insurers oppose the big tax
hit that his asbestos trust fund would entail; others
are unaware of their compulsory financial obligations
under the Specter plan. Senator Specter's bill gives
nearly $7 billion to trial lawyers. That's real money
better spent on asbestos victims. Although he attacks
my motives for opposing this big payoff, we would
rather debate good policy. Real tort 'reform' means
fixing our broken legal system, not simply abandoning
it to create more bureaucracy and higher taxes."
*****
Dick Armey, The New York Times, 05/24/2005
For complete story, search http://query.nytimes.com/search/advanced?srchst=nyt
$ - The New York Times charges $2.95 for each
archived article retrieved
*****
