Byron Dorgan: “we are voting on a motion to waive the Budget Act in order that the bill creating an asbestos trust fund can continue to…”

“we are voting on a motion to waive the Budget Act in order that the bill creating an asbestos trust fund can continue to be considered on the floor of the Senate. For the past couple of years, I have encouraged the creation of some kind of a trust fund to settle the many asbestos claims that are clogging our court system. The current tort system does not work at all, in my judgment, with respect to asbestos-related claims. According to the RAND study, lawyers on both sides of the issue are getting 58 cents of every dollar spent on asbestos litigation, which means that the victims are only getting 42 cents of every dollar expended. In addition, there are some very sick people who are getting no help while some people who will never get sick are getting awards. Frankly, that isn't fair or equitable. So I have been sympathetic to the creation of some kind of a trust fund, and I know that the chairman and ranking member of the Judiciary Committee have worked very hard to develop the trust fund proposal now being considered. I also know that the motion to waive the Budget Act is considered by some a technical issue. But some recent studies, including one done by my colleague Senator Conrad, the ranking member on the Senate Budget Committee, suggest that the potential budget exposure to the United States Government is substantial.…”