Product Liability Reform
After 20 years of snags, product-liability reform looks imminent. The White House and Senate Republicans have struck a compromise that Majority Leader Trent Lott (R-Miss.) may bring to a vote in July. The bill falls far short of backers' original goal: It sets a $250,000 cap on punitive damages--but just for companies with less than $5 million in revenue and fewer than 25 employees. Lobbyists want Big Business to go along with this bill and try for more later.