Asbestos Trust May be Dead Deal

Article Added February 13th, 2006 - Print This Story - Bookmark This Story

The $140 billion fund for asbestos victim compensation may be set aside for the year if the Senate vote for this week goes astray. Senate Majority Leader Bill Frist looks to key votes to keep the debate alive.

In a debate that has been alive since the beginning of the New Year, an asbestos bill that would provide recompenses to asbestos victims has again been brought to the brink. If the debate is allowed to linger to the end of this week, the debate could be put aside for the remainder of the year. The procedural objection to the bill, a key vote for the entire process, was to take place late Tuesday. The bill would allow companies to pay into a trust fund in trade for protection from further lawsuits. More than 70 US companies have already declared bankruptcy due to asbestos lawsuits.

Senators did not know if the bill had enough votes to defeat an objection from Senator John Ensign, who says that the bill may end up costing tax payers if the bill falls short, a move that is in violation of budget rules. At least 60 votes are required for parliamentary objection and to keep the asbestos bill alive. All parties involved are expecting a close vote.

Article Added February 13th, 2006 - Print This Story - Bookmark This Story

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