Search
 

Federal Asbestos Trust Fund Abandoned?

The Coalition for Asbestos Reform (CAR) is continuing to advocate against the creation of a federal trust fund for asbestos litigation claims.

By staff Writer | Updated on June 26, 2006

The Coalition for Asbestos Reform (CAR) is continuing to advocate against the creation of a federal trust fund for asbestos litigation claims, referred to as the Fairness in Asbestos Injury Resolution Act.

Citing the recent testimony of former Congressional Budget Office director Douglas Holtz-Eakin, the Coalition said creating the fund would result in failure and could have disastrous consequences for smaller and medium-sized businesses that face asbestos liability. According to CAR, many businesses do not realize the impact of $140 billion in taxes that the legislation would require, though at press time there were pending changes to the proposed legislation that might limit these amounts.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.