Russ Feingold: “I want to speak today on S. 2290, the revised, but still misnamed, Fairness in Asbestos Injury Resolution Act.…”

“I want to speak today on S. 2290, the revised, but still misnamed, Fairness in Asbestos Injury Resolution Act. Reluctantly, I will oppose the motion to proceed to this bill. I say ``reluctantly'' because I support the concept of a national trust fund to compensate victims of asbestos-related diseases and address the severe strain that cases brought by those victims have placed on our legal system and our economy. Ten thousand Americans now die each year--a rate approaching 30 deaths per day--from diseases caused by asbestos. My home State of Wisconsin ranks 16th in the Nation in asbestos-related deaths. I was encouraged when the defendant companies in some of the many lawsuits that have been filed, their insurers, and organized labor began serious negotiations back in 2002 to try to develop legislation for a national trust fund that the Congress could enact on a consensus basis to address this serious problem. This was an issue that called out for a bipartisan solution. Unfortunately, those discussions were short-circuited before an agreement could be reached.”