Asbestos Trust Fund Still Being Negotiated

Senate Minority Leader Tom Daschle’s (D-S.D.) latest proposal creating an asbestos trust fund was rejected by Senate Majority Leader Bill Frist (R-Tenn.) for allowing “thousands of cases” to continue in the court system. The proposal would have allowed all claimants whose trial dates were within 60 days of enactment of legislation creating a trust fund to continue with their cases instead of receiving compensation from the fund. Tens of billions of dollars have already been paid out as compensation for asbestos claims with dozens of affected companies filing for bankruptcy.

Negotiations are ongoing despite the fact that Senator Frist recently removed the legislation from a list of priorities that he’d like to finish before the Senate adjourns this year.