Senate Rejects Asbestos Trust Fund

February 20, 2006

The Senate stood up for the rights of working people throughout America when it struck down a proposed bill that would have established a $140 billion trust fund to compensate victims of asbestos-related diseases.

In the 58-41 vote, an unlikely coalition of liberals and fiscal conservatives united to defeat the bill that would have limited the amount of money that victims of mesothelioma, asbestosis, or other asbestos-related diseases and their families receive in compensation.

As of 2006, there are about 600,000 pending lawsuits against the asbestos industry, and approximately 75,000 new suits are filed each year.

The fund would have been paid for by companies and insurance agencies in order to assure reimbursement of damages to people affected by bankrupt or out of business companies.

The defeat of the bill allows victims and families of victims of asbestos-related diseases to take direct legal action against the companies and industries that caused such profound suffering. The bill would have stifled any legal action directed towards the asbestos industry, and would have severely limited the amount of damages that victims could claim.

The Senate vote was a loud affirmation that the victims of mesothelioma, asbestosis, lung cancer, and other asbestos-related diseases deserve more in order to protect their family, their finances, and their lives.