[Congressional Record Volume 143, Number 56 (Monday, May 5, 1997)]
[Extensions of Remarks]
[Page E835]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            WORKERS' COMPENSATION AND STRUCTURED SETTLEMENTS

                                 ______
                                 

                        HON. FORTNEY PETE STARK

                             of california

                    in the house of representatives

                         Thursday, May 1, 1997

  Mr. STARK. Mr. Speaker, I join today with Mr. Shaw, Mr. Ramstad, and 
a broad bipartisan group of cosponsors from the Ways and Means 
Committee in introducing legislation to make structured settlements 
available to men and women who have suffered severe physical injuries 
in the workplace.
  I have been a long-time supporter of structured settlements, going 
back to the original 1982 legislation that enacted section 130 of the 
Internal Revenue Code to encourage the use of structured settlements 
for physical injuries in tort cases. I believe that making the 
structured settlements available for physical injuries suffered in the 
workplace is fully consistent with the original rationale and policy 
that lead to the enactment of the Code section 130 structured 
settlement tax rules.
  People who suffer severe and permanently disabling physical injuries 
in the workplace have the same need as badly injured tort victims for 
long-term financial security to cover the expenses of ongoing medical 
care and daily life.
  I look forward to working with my colleagues on the Ways and Means 
Committee and in the House to pursue adoption of this legislation.

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