WASHINGTON, DC – The following statement from Lisa Rickard, president of the U.S. Chamber of Commerce’s Institute for Legal Reform (ILR), is a response to Towers Perrin’s annual study (pdf) on the cost of America’s tort system, which shows an increase of 2.1% in 2007 to $252 billion.
“While Americans are feeling a financial pinch from the current economic downturn, this study reminds us that one part of our economy has been growing – the lawsuit industry.
“As our economy continues to shed jobs, plaintiffs’ lawyers are gearing up to lobby the next Congress for even more ways to sue. But an election night national poll shows 79 percent of voters think our economy would be further harmed if Congress gives plaintiffs’ lawyers more opportunities to sue businesses and individuals.
“The American people understand that we cannot sue our way out of this economic crisis.”
ILR seeks to promote civil justice reform through legislative, political, judicial, and educational activities at the national, state, and local levels. 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.