Measure to scrap oil-spill liability limit clears Senate panel

07/1/2010 | Business Insurance (tiered subscription model)

The Senate Environment and Public Works Committee approved legislation that would remove the $75 million limit to liability costs that should paid by companies for offshore oil-spill disasters. The proposed measure would retroactively apply to the oil-rig disaster in the Gulf of Mexico. "Taxpayers should not be responsible" for paying for damages caused by the spill, said Committee Chairwoman Barbara Boxer, D-Calif.

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