November 09, 2004
Tort Reform must be the Top Priority of New Administration
In 1986, I was elected to the White House Conference on Small Business. This conference uses parlimentary rules and many conventions from the US congress. The purpose of the conference is so that small business can have a voice in priorities for business. As we know, huge companies have money to lobby, small business just has sweat equity.
The conference was about a week. While I do not remember all of the items we passed as topics for the Reagan administration to consider, I do remember one: Tort Reform. This is so critical to our country. It heavily influences business, personal behavior and the future of our country, it is hard to comprehend.
Companies out source jobs due to high labor costs but also to avoid the legal costs rampant in the US. This crippling our economy and is a real brake on productivity and innovation. If the Bush administration does not use their "political capital" to fix this one, it may never get done. The US has several advantages in its economy, not the least of which is innovation. We do it the best in the world. This is because it is ok to fail and try again. Massive malpractice awards curb this edge.
George, you were elected with a majority. Give everyone in the US a reason to applaud you. Pass a real tort reform bill. You are one of the few people elected with the will, ability and focus to get this done. That will be a great legacy.
The conference was about a week. While I do not remember all of the items we passed as topics for the Reagan administration to consider, I do remember one: Tort Reform. This is so critical to our country. It heavily influences business, personal behavior and the future of our country, it is hard to comprehend.
Companies out source jobs due to high labor costs but also to avoid the legal costs rampant in the US. This crippling our economy and is a real brake on productivity and innovation. If the Bush administration does not use their "political capital" to fix this one, it may never get done. The US has several advantages in its economy, not the least of which is innovation. We do it the best in the world. This is because it is ok to fail and try again. Massive malpractice awards curb this edge.
George, you were elected with a majority. Give everyone in the US a reason to applaud you. Pass a real tort reform bill. You are one of the few people elected with the will, ability and focus to get this done. That will be a great legacy.
