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February 1, 2006

Chamber Committed to Achieving Legislative Solution to Asbestos Crisis

WASHINGTON, DC — United States Chamber of Commerce President and CEO Tom Donohue issued the following statement expressing the Chamber’s commitment to achieving a legislative solution this year to an asbestos litigation crisis that is preventing the truly injured from receiving just compensation and is bankrupting companies.

“The asbestos litigation system is broken and poses a clear and present danger to the truly injured, innocent companies and the entire economy. Asbestos lawsuits have bankrupted more than 70 companies and put 60,000 people out of work, while courts have been clogged with frivolous lawsuits and justice has been delayed for the truly sick.

“The solution to the asbestos litigation crisis lies in the legislative process moving forward. The Chamber does have concerns with aspects of the asbestos legislation reported out of the Senate Judiciary Committee. However, we expect the legislation to be further refined as it moves through the full legislative process—including the Senate, House and subsequent conference committee—so that the best possible bill can be enacted.

“The Chamber will continue to play an active and constructive role in finding a solution that meets the needs of victims with proven asbestos-related illnesses and the business community.”

The U.S. Chamber of Commerce is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

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