U.S. Chamber of Commerce - Jan 6 - U.S. Chamber Welcomes Specter Efforts On New Asbestos Draft Legislation

Thursday, January 6, 2005

U.S. Chamber Welcomes Specter Efforts On New Asbestos Draft Legislation

WASHINGTON, D.C. – United States Chamber of Commerce President and CEO Thomas Donohue called the need for a legislative solution to the asbestos litigation crisis “imperative,” saying, “The need for a lasting solution to the asbestos litigation crisis crippling the American economy has never been greater. A solution will be found because the alternative is unacceptable – sick people abandoned, companies bankrupt, and workers out of a job.

“I am pleased that Senate Judiciary Committee Chairman Specter is working with the business community to address this problem and to modify current versions of a legislative solution.

The Senator is finalizing a new draft of his asbestos proposal, which the business community is eager to review. I understand that this new draft would tackle business’ key concerns about the trust fund, including cases that might be excluded from the fund, and trust fund startup.

“Evaluating the asbestos debate is harder than hitting a moving target. The Senator deserves credit for taking on the task of finding a legislative solution and we are committed to working with him to meet this challenge,” said Donohue.

The U.S. Chamber of Commerce is the world’s largest business federation representing more than three million businesses and organizations of every size, sector and region.

# # #

05-07