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Aid for Asbestos Victims May Stall, Senator Says

IN BRIEF/WASHINGTON, D.C.

September 05, 2005|From Times Wire Reports

Prospects for Senate passage this year of a proposal to compensate asbestos-exposure victims from a $140-billion fund were hurt by a report that the trust may not have enough money to pay all claims, Sen. John Cornyn (R-Texas) said.

The Congressional Budget Office said claims to the fund over a 50-year period would range from $120 billion to $150 billion.

The report also warned that revenue the trust fund was to collect from companies "could be significantly less" than the $140 billion proposed in the legislation.

The legislation aims to end lawsuits by asbestos-exposure victims that have forced 77 companies into bankruptcy court.

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