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.

Before it's here, it's on the Bloomberg Terminal.