From From AAIA Capital Report
WASHINGTON — Senate Judiciary Committee Chairman Orrin Hatch (R-Utah), has acknowledged that asbestos litigation reform legislation (S1125) as currently drafted is unlikely to gain the necessary 60 votes required to end debate in the Senate.
The legislation is a priority of Majority Leader Bill Frist (R-Tenn.), and he is working with high-ranking Democrats in an attempt to develop a compromise bill that will draw the necessary votes to overcome the expected filibuster. Key to the discussion is the amount of money contained in a trust fund to pay claims as well as the size of individual claims.
Asbestos litigation relief is a significant issue for aftermarket businesses that have ever manufactured, sold or installed asbestos-containing friction products.
Members are strongly encouraged to continue contacting their senators via AAIA’s Legislative Action Center at: www.aftermarket.org.
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