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February 6, 2015

Making Congressional Asbestos Reform a Priority a “Sign of Strength”


Sara Warner writes in The Huffington Post about this week’s House Judiciary Committee hearing on the Furthering Asbestos Claims Transparency (FACT) Act.

“If there was a ‘newsmaker’ revelation, it was from an accounting firm witness who documented that, since 2009, some 23 bankruptcy trusts have had to reduce payouts to asbestos disease victims and that claims today are being paid at about 50 percent of the rate they were in 2009,” writes Warner.

Noting the disclosures of fraud in the Garlock bankruptcy proceedings, and the recent asbestos litigation-linked scandal involving former New York Assembly Speaker Sheldon Silver, Warner asserts that congressional Republicans’ decision to make “asbestos reform a priority is a sign of strength, and Democrats cannot afford to become positioned as the main reason that trust funds are paying 50 cents on the dollar.”

Read the full story here.

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