CFIF Urging Senate to Back Asbestos Trust Fund

May 3, 2005

The Center for Individual Freedom has called on Members of Congress to support the concept of asbestos victims’ compensation fund.

“Victims of asbestos exposure too often find themselves suffering, not
only from illness, but also at the hands of the court system,” said Marshall Manson, the Center’s senior vice president of Public Affairs. “Far too many asbestos victims will never receive fair compensation if Congress does not act swiftly to adopt a trust fund and ensure that those legitimately harmed by asbestos exposure find justice.”

The group pointed out that a study by the RAND Institute found that the weight of asbestos lawsuits is a $200 billion drain on the economy. Already more than $70 billion has been spent on claims, but reportedly only 43 percent of that total has gone to victims. The bulk of the remaining 57 percent has reportedly gone in the pockets of lawyers.

“We must ensure that the money spent on asbestos claims actually goes to real victims. It’s time to end the trial lawyers’ asbestos gravy train. A trust fund will do just that,” Manson said. “To be sure, the current bill is not perfect, but it is an outstanding first step. Congress should move forward.”

The Center for Individual Freedom has sent a letter to Congress urging
them to support a trust fund solution to the asbestos litigation crisis.

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