Our nation's litigation addiction hurts small business growth, large business expansion, and global economic health
According to new research, Costs and Compensation of the U.S. Tort System, the U.S. tort system costs totaled $429 billion in 2016. That figure was equivalent $3,329 dollars per household in America.
Tort liability lawsuits have harsh effects on American businesses:
- The tort liability price tag for small businesses in America in 2008 was $105.4 billion
- One in three small business owners report that they have been sued or threatened with a lawsuit
- The cost and compensation paid in the U.S. tort system totaled 2.3 percent of the U.S. gross domestic product (GDP) in 2016
For over 20 years, the U.S. Chamber Institute for Legal Reform (ILR) has championed the fight for legal reform to lessen the impact of lawsuit abuse on the entire business community.
ILR shines a light on what is wrong in the legal system by conducting cutting-edge research and advancing pragmatic solutions. We passionately advocate on behalf of the business community for common sense lawsuit solutions with Congress and state legislatures to help foster jobs and encourage economic expansion.
Your donation, whether one dollar or more, to the U.S. Chamber Institute for Legal Reform, will provide resources to help champion the many causes addressing legal reform which helps our national business community to better compete in a global economy.
Thank you for helping ILR advocate for common sense legal reform!
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