Statement On Asbestos Litigation Legislation

WASHINGTON, DC – Sen. Tom Carper (D-DE) issued the following statement about the efforts to reach a bipartisan compromise on legislation to solve the asbestos litigation problem: “I want to thank Senate Judiciary Committee Chairman Orrin Hatch for his leadership on this very important and difficult issue. The asbestos litigation reform bill he has released is a work-in-progress that gets us one step closer to reaching a bipartisan compromise. I look forward to working with Senator Hatch, Judiciary Ranking Member Patrick Leahy and other colleagues as we work to craft an effective compromise. I hope the various stakeholders are able to come together and continue to work toward a consensus that will be enable the Senate to pass a strong, bipartisan bill soon. There is just too much at stake.” “Like many of my colleagues, I am committed to resolving the asbestos litigation problem. The current litigation system doesn’t work for victims or defendants. Because of a rash of lawsuits, people who are sick may not get the money they deserve. Meanwhile, bankruptcy looms over many liable companies, damaging their ability to invest, depressing their stock values and further hurting American workers and retirees.” “We need to make sure that people who are sick and dying get the help they need. We need to make sure that people who were exposed to asbestos and who may become sick get the help they need. And we need to ensure that people who may have had an exposure to asbestos, but who are not sick, don’t siphon award money from those who genuinely need it.” “We also need to establish certainty for both the victims of asbestos exposure and for the defendant businesses involved in various asbestos lawsuits. In these uncertain economic times, victims need to know there will be money to pay them when they get sick and businesses need to know the cost of their ultimate liability.”