NEW ANALYSIS QUESTIONS ASBESTOS FUND REVENUES

In a new analysis of the $140 billion asbestos trust fund scheme included in S. 852 which was reported out of the Senate Judiciary Committee, the Congressional Budget Office raises doubts over whether the trust fund created will have sufficient funds to pay expected claims.

According to the CBO, “There is a significant likelihood that the fund’s revenues would fall short of the amount needed to pay valid claims, debt service, and administrative costs.”

Congress is expected to take up asbestos legislation when it returns in January.