Asbestos Update

Here’s a quick asbestos update from the St. Clair Record:

Word from the U.S. Capitol is that the long debated federal asbestos litigation reform measure will– finally– start moving toward passage in July.

At issue has been who will pay into a proposed $140 billion ‘Asbestos Trust Fund’ intended to replace litigation, and how much. The insurance industry has reservations about its share, reportedly $46 billion worth.

U.S. Senate Judiciary Committee Chairman Arlen Specter (R-Pennsylvania) is aiming for a floor vote after the July 4th holiday.