President Bush Signs Class-Action Fairness Law

In the first bill signing of 2005, President Bush signed Class-Action Fairness into law.

Full text of the remarks are here.

Overall, junk lawsuits have driven the total cost of America’s tort system to more than $240 billion a year, greater than any other major industrialized nation. It creates a needless disadvantage for America’s workers and businesses in a global economy, imposes unfair costs on job creators, and raises prices to consumers.

We have a responsibility to confront frivolous litigation head on. I will continue working with Congress to pass meaningful legal reforms, starting with reform in our asbestos and medical liability systems.