Statement of Lisa A. Rickard, president of the U.S. Chamber Institute for Legal Reform, on the letter sent July 23rd by Senator Chuck Grassley and Congressman Dave Camp to Treasury Secretary Timothy Geithner regarding Treasury’s consideration of a $1.6 billion tax break for plaintiffs’ lawyers:
“Senator Grassley and Congressman Camp are right to question Treasury’s possible enactment of a special interest tax break for plaintiffs’ lawyers without the approval of Congress.
“For the past three years, the trial lawyer lobby has been pushing Congress to enact a $1.6 billion tax cut for plaintiffs’ lawyers that would increase abusive litigation and add to the deficit. With support in Congress woefully lacking, the trial bar is trying to circumvent our elected representatives and get Treasury to enact their special interest tax break by fiat.
“At a time of high unemployment and record deficits, Washington should be working to put Americans back to work, not increase the deficit while subsidizing frivolous lawsuits. I applaud Senator Grassley and Congressman Camp for questioning this brazen end run around our democratic process.”