Senate Considers FACT Act, Asbestos Claims

The U.S. Senate Judiciary Committee today will begin discussing the Furthering Asbestos Claims Transparency (FACT) Act — despite growing, widespread opposition. Groups of veterans, teachers, firefighters, municipal, county and state workers delivered letters Monday to ranking Senate Judiciary Committee members, voicing their disapproval. The bill would require new, stiffer requirements for those seeking compensation from asbestos trusts. The U.S. Bankruptcy Code established asbestos trusts to compensate victims of asbestos exposure. These trusts are worth an estimated $30 billion. Earlier this year, the FACT Act was folded into a larger proposal and renamed the Fairness in Class Action Litigation and Furthering Asbestos Claim Transparency Act of 2016 (H.R. 1927). The U.S. House of Representatives recently passed that version. For this legislation to be enacted, the Senate must pass the bill and the approval of President Barack Obama, who already vowed to veto the proposal. Although the House passed similar legislation three times in the last four years, the Senate struck down each proposal. Opponents of the FACT Act believe it unfairly targets military veterans. Because of the military's past reliance on asbestos products, diseases related to asbestos exposure, including mesothelioma, have hit veterans in disproportionate numbers. An estimated 30 percent of all mesothelioma lawsuits involve veterans. Veterans Unite "The bill is a cynical ploy by the...
Source: Asbestos and Mesothelioma News - Category: Environmental Health Authors: Tags: Legislation, Laws & Litigation Source Type: news