U.S. Senate hearing may revive asbestos trust fund plan

By Brian Cole

Published on June 09, 2006

The committee chairman, Pennsylvania Republican Arlen Specter, and Democrat Patrick Leahy of Vermont are the co-sponsors of the bill and are creating the modified approach to provide compensation for victims of asbestos who are affected by lung cancer and mesothelioma, an aggressive cancer affecting the inner lining of the chest and abdomen.

The fund would end asbestos litigation, which has forced nearly 80 companies into bankruptcy. Individuals would be provided with $25,000 to $1.1 million, depending on the extent of their illness.

Supporters of the fund in the Senate saw it blocked by just a single vote in February. 60 senators were needed to override an objection that it violated the Budget Act by adding to the federal deficit.

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