Harry Reid: “it is not often that you see a legislative plan with such bipartisan opposition. The asbestos bill before the Senate is…”

“it is not often that you see a legislative plan with such bipartisan opposition. The asbestos bill before the Senate is an example of how you should not proceed on a piece of legislation. I have explained throughout the week, as have others, that the so-called FAIR Act is not fair. I have explained how this legislation will harm victims by trapping them in an administrative claims system that is irreparably defective and doomed to fail. It is a bill that is not only unfair to victims but to businesses, except for a few large corporations. Major industries oppose this, such as the insurance industry. It is terribly unfair to the American taxpayer, terribly unfair to the veterans. The trust fund set up under this bill to pay for victims' claims is woefully underfunded. Expert after expert has opined that $140 billion will not be sufficient to satisfy expected claims, and it doesn't properly account for expected borrowing and administrative costs. Adding insult to injury, the mechanics of the trust fund claims system unacceptably abridge the rights of victims with unworkable startup and sunset provisions. It is no surprise that the asbestos bill that has reached the Senate floor is in such poor shape when it is the product of such an unusual legislative process. Ordinarily, Senate deliberation on a bill is open and transparent. But consider all the ways this bill is shrouded in mystery.…”