On the recordFebruary 16, 2000
we are now confronted with a measure that ought to begin with the observation of the necessity for truth in labeling. The sponsors of this bill have had the courage to put small business liability, to put ``small'' in the title. They have been bold enough to include this phrase in the title. The problem, of course, is on any reading of this, this measure is in no way limited to small business. Title II, which limits the liability of product sellers, contains no size limitation whatsoever. The fact that we talk about 25 employees or less ignores the simple fact that there is no constraint on the amount the business is doing in terms of revenues. Hundreds of millions, if not billions of dollars, could be included, as we know, in financial organizations that frequently have far less than 25 employees. So this is not a small business bill. Of course, to fundamentally limit victims' rights when it comes to dangerous products, negligence and other misconduct is, to me, going in the wrong direction, because it follows the form of other liability legislation we passed that is already going in the wrong direction. This bill has to stand next to the class action bill that federalized most class actions; the statute of repose bill that created an 18-year limit on durable goods and machinery and equipment.…
Source
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