Asbestos Bill Update

Reuters reports,

WASHINGTON (Reuters) – Senate Republicans will meet again on Thursday to discuss a proposal for a $140 billion asbestos compensation fund, Sen. Arlen Specter said after a lengthy session on the issue on Wednesday.

Speaking after more than an hour with Senate Judiciary Committee Republicans and Senate Majority Leader Bill Frist, Specter said he was “considering” changes in his proposal to address Republican concerns. But the Pennsylvania Republican added that he still hoped to attract Democratic supporters as well.

Specter, the Judiciary Committee chairman, canceled what had been planned as a full meeting of the panel for Thursday in order to meet again with Republicans on the asbestos bill draft. Republicans have raised concerns about whether the proposed fund will provide a final cap on asbestos liability for business and insurers.