Statement of Administration Policy: S. 852 - Fairness in Asbestos Injury Resolution Act

STATEMENT OF ADMINISTRATION POLICY

(Senate)

(Sen. Specter (R) Pennsylvania and 19 cosponsors)

The Administration supports Senate passage of S. 852. Asbestos-related litigation has clogged the courts, depriving those with injuries of a meaningful remedy and resulting in the loss of tens of thousands of jobs, the bankruptcy of at least 70 companies, and costs to the U.S. economy estimated at over $300 billion. Trial lawyers are now targeting companies once considered too small to sue and companies not directly involved with the manufacturing of asbestos.

The Administration has called for asbestos litigation reform that: (1) concentrates funds on those who are sick, not lawyers or claimants who are not ill; (2) speeds up the process for delivering justice to deserving victims; and (3) provides certainty in the system that will help save jobs and protect businesses that had nothing to do with creating the asbestos crisis. Although the Administration has serious concerns about certain provisions of the bill, the Administration looks forward to working with Congress in order to strengthen and improve this important legislation before it is presented to the President for his signature.