California Democratic Senator Floats Draft Asbestos Trust Fund Bill

WASHINGTON - Sen. Dianne Feinstein (D-Calif.) has circulated a draft bill in an attempt to breathe life into legislation that would create a multi-billion dollar trust fund to pay all pending and future asbestos claims.

News of the draft bill surfaced Aug. 13, after weeks of speculation that Feinstein was developing a measure that would attempt to bridge that gap between Republicans and Democratic proposals that have failed to garner widespread support in the U.S. Senate.

According to published reports, Feinstein's draft assumes a fund of $140 billion, possibly $4 billion more if the trusts established by bankrupt defendants are …