February 8, 2005
Asbestos victims and their family members in Colorado are expressing their disapproval over the government asbestos fund that was passed in the Senate this Tuesday. The fund, which would provide asbestos victims with $140 billion dollars, aims to compensate victims and family members who have been adversely affected by the toxic fibers, while avoiding the lengthy and expensive litigation process.
Many, like the Coloradoans, however, believe that this government plan is merely a way to “bailout” the many companies and corporations involved in asbestos litigation, some owing billions to injured victims. Others are simply opposed to the fact that government dollars will be put towards a problem that is the responsibility of specific corporations.
The asbestos fund would be available to those who have been affected already and those who will develop illness as a result of asbestos exposure but will however be significantly limited in its compensatory payouts.
Bill Vandenberg, program director for the Colorado Progressive Coalition has conveyed his disappointment in the plan, stating the government asbestos fund plan does not guarantee fair compensation for those who have been injured or those who will be injured by asbestos.
Supporters of the plan, however, believe that the asbestos compensation fund is a must to ensure that the injured receive compensation in a timely manner. While damages may not be as large as in a privately handled settlement, while saving millions in legal expenses.
Senator Wayne Allard of Colorado is supporting the bill.
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