Political Quotes

“Mr. Chairman, the amendment offered by the gentleman from Ohio [Mr. Hoke] provides for 75 percent of punitive damages awards in excess of $250,000 to be deposited to the treasury of the State in which the particular Federal or State court sits. Since punitive damages are limited under Section 201(b) to $250,000 or 3 times the damages awarded for economic loss--whichever is greater--punitive damages can exceed $250,000 only if the damages for economic loss exceed $83,333.33. I support this proposal because it effectuates the public interest in allowing large punitive damages awards to benefit the appropriate State without either compromising the rights of claimants to full compensation for injuries sustained or eliminating incentives to seek punitive damages. Punitive damages are designed to punish or deter egregious misconduct--in contrast to compensatory damages that compensate claimants for both economic and non-economic losses. It makes eminent good sense for punitive damages to be allocated for public purposes-- which essentially is what we accomplish by directing such funds to state treasuries.”