Resolution 040417

..Title Urging the U.S. Senate to oppose bill S.2290 the 'Fairness in Asbestos Injury Resolution Act of 2004' ..Body WHEREAS, Asbestos is a fibrous mineral that was commonly used until the mid 1970s for insulation and fire proofing; and WHEREAS, When inhaled, its tiny fibers can cause cancer and other ailments that take decades to develop; and WHEREAS, The U. S. Senate is considering the Fairness in Asbestos Injury Resolution Act (S.2290) which would establish a trust fund that would be financed by business and insurance companies and would ostensibly expedite funds to people with asbestos-related diseases; and WHEREAS, In exchange for this fund being created, asbestos victims could not take asbestos-makers to court; and WHEREAS, This bill would put limitations on exactly how many years a person must be exposed and on the average, seriously ill victims of asbestos would receive less compensation, under S.2290, than they would in the tort system; and WHEREAS, Over the past few years, the Laborers International Union of North America (LIUNA) has been in serious talks with representatives from the trial bar and the asbestos-related industry in an attempt to forge a consensus on a national trust fund to fairly compensate asbestos victims and provide financial certainty for asbestos defendants and their insurers; and WHEREAS, This bill does not provide enough money to justify victims surrendering their right to sue the companies they believe sickened them; and WHEREAS, The bill is essentially capped at $109 Billion over 24 years no matter what the true costs may be, and despite the fact that projections of future claims indicate that this level of funding is simply inadequate to award fair compensation to present and future asbestos victims; now therefore RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That this proposed legislation is fatally flawed because it does not adequately address the issues under consideration, and that therefore this legislative body urges the U.S. Senate to oppose U.S. Senate Bill S.2290 the 'Fairness in Asbestos Injury Resolution Act of 2004' ..End