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Press Release

Stop the Asbestos Trust Fund: FreedomWorks Runs Full Page Ads in The Wall Street Journal, Washington Times, and Roll Call

American businesses and policymakers need to know that some in Congress are planning to create a massive new tax and spend program in a flawed attempt to address the asbestos litigation crisis. That's why FreedomWorks today is running full-page advertisements in three newspapers with national reach— The Wall Street Journal, The Washington Times, and Roll Call. The ad, titled "The Asbestos Trust Fund: Another Big Government Black Hole" delivers the facts about Sen. Specter’s Trust Fund approach:

• Instead of fixing the underlying problem, the Trust Fund would make matters worse by creating a new $140 billion government program
• The Trust Fund guarantees a payoff of nearly $14 billion to asbestos attorneys
• This massive tax hike will inevitably force many unsuspecting small and mid-sized companies into bankruptcy, and leave taxpayers holding the bag
• Permissive rules would allow unrelated and fraudulent claims to aggressively compete for a piece of the action

Instead of creating an ill-conceived Trust Fund, FreedomWorks is urging Congress to follow the lead of states like Ohio that have already enacted practical asbestos relief legislation based on strict medical criteria, ensuring real victims prompt and just compensation.

The full .pdf of the advertisements are available online here.

FreedomWorks President Matt Kibbe commented:

"As Sen. Specter and the Judiciary Committee consider moving a bill this week, FreedomWorks is alerting America’s businesses and conservative policymakers to this flawed plan to raise taxes by a staggering $140 billion."

"We’re serious about stopping the Trust Fund, and our national media campaign is just one piece of our overall strategy. In fact, our grassroots members have already generated nearly 3,000 telephone calls and email letters to the U.S. Senate. It's commonsense to know that new government programs and higher taxes are not the solution to the asbestos litigation crisis. Instead of another Big Government Trust Fund, let’s pass a medical criteria bill to fix our legal system and ensure that real victims get relief."