The Congressional Budget Office today said the asbestos litigation reform bill now before the U.S. Senate is likely to add to the federal budget deficit over the next 10 years, and contributions into the fund are unlikely to be adequate to pay all claims.
The revenue collection stream that would be generated by the legislation is "highly uncertain," the CBO added.
The American Trial Lawyers Association immediately jumped on the report, saying that it "confirms the fundamental flaws with the proposal that victims, public health experts, independent claims analysts and senators on both sides of the aisle have been pointing out for months."
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