Oklahoma Republicans Bailout Negligent Parties at Taxpayers Expense!
As if the Obama bailouts of GM and Chrysler weren’t enough our Republican legislators here in Oklahoma are offering up their own bailout to insurance companies and people who lose lawsuits. Hidden in HB 1603, the tort reform bill, is a provision creating an indemnity fund for non-economic damages in excess of $400,000 . The fund would be used to pay those who are awarded
damages in a lawsuit in excess of $400,000.
Currently the law makes the negligent or losing party in a lawsuit pay the judgment amount to the winning party. But HB 1603 gives those parties (in most cases its an insurance company) bailout.
This indemnity fund created in the bill requires the state (TAXPAYERS) to purchase a $20 million insurance policy by May 1, 2011. Legislative staff
say the insurance policy will cost about $1 million dollars. That’s $1 million dollars that every Oklahoma taxpayer is forced to help pay for
whether or not they are ever negligent or whether or not they even get sued!
As a conservative Republican I am flabbergasted that Republicans in the House and Senate would actually use our tax dollars in this way. Bailouts
are wrong, no matter if Obama does them or if Republicans in Oklahoma do them!
Bob
Bob,
It is refreshing to see another Republican who understands the truth
about claimed “tort reform”. It really is corporate welfare or
corporate immunity. How can conservative leaders support this
continued fleecing of Oklahoma is beyond me.
James Dunn, National
Committeeman of Oklahoma
And I shall debate against this tax payer ripoff tomorrow!
I campaigned as a champion of the Oklahoma tax payer; and I will vote as a champion of the Oklahoma tax payer!
Rep. Paul Wesselhöft