Specter pressured to lower amount of proposed asbestos fund

U.S. Senate Judiciary Committee Chairman Arlen Specter is reportedly under pressure to scale back his proposal for a $140 Billion privately financed asbestos fund.

The White House has not explicitly endorsed Specter's proposal, and some Republicans and business interests fear its current provisions would be too costly for the defendant companies and insurers who would finance the fund.

News Source: Reuters | Published: February 28, 2005 | Read Full Story

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