New Report: An Empire Disaster
November 20, 2009
Earlier this week the New York Daily News ran a great op-ed co-authored by Lawrence McQuillan of the Pacific Research Institute and Mark Kriss, head of New Yorkers for Lawsuit Reform. The piece describes how lawsuit abuse is harming New York state’s economy and how trial lawyers and their friends in the state legislature are blocking attempts to stop the abuse.
Just what would legal reform mean for New York? Money quote:
…if such reforms were put in place, New York would create at least 86,000 new jobs, increase state output $17 billion annually, boost state tax revenues by more than $1 billion a year, raise the income of every New Yorker by more than $2,600 a year, attract new customers and entrepreneurs to the state and cut insurance premiums up to 16% per annum.
For more, read the terrific report that PRI just released, “An Empire Disaster.”