Lamar Smith: “As I mentioned in my opening statement, repealing the Limitation of Liability Act hurts victims of maritime accidents.…”

“As I mentioned in my opening statement, repealing the Limitation of Liability Act hurts victims of maritime accidents. The Limitation of Liability Act provides for the orderly resolution of claims arising out of a maritime accident in one Federal court. It also creates a compensation fund for personal injury claims. Repealing the act eliminates these two important provisions. In many cases, this will result in victims of maritime accidents receiving less compensation than they would under current law. First, victims will receive less compensation because cases will no longer be consolidated in one Federal court. Consolidation allows victims to share litigation and expert costs and allows for proportional allocation of damage awards. Second, victims will potentially receive less compensation because repealing the act will repeal the personal injury fund. The personal injury fund requires vessel owners to provide compensation over and above the liability cap. Again, a vote for this bill is a vote to repeal the personal injury fund. Let's not rush this bill through the House today and hurt the very people we're supposed to be trying to help but send it back to committee to be examined and amended properly. Madam Speaker, I reserve the balance of my time.”