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| KEY TAKEAWAYS |
- Lawsuit abuse costs the average family $4,900 a year. But reforms can put money back in people's pockets.
- Opening up more offshore energy opportunities could support more than 133,000 jobs.
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| How Legal Reform Can Make Life More Affordable |
The average American household now absorbs $4,900 a year in costs and compensation tied to the U.S. tort system, according to new research from U.S. Chamber Institute for Legal Reform (ILR).
Why it matters: That money often does not show up as a line item on a bill, but families still feel it anyway. It is the extra cost baked into everyday items like groceries and insurance premiums.
Be smart: Abusive litigation "hits the small manufacturer, the family-owned restaurant, and the independent contractor who can't afford to fight and can't afford to settle," wrote ILR President Stephen Waguespack in a Washington Examiner op-ed. New York's faces some of the highest car insurance rates in the nation, driven in part by staged car collisions and insurance fraud.
- “When the legal system starts to feel more like a lottery than a safeguard, businesses stop taking risks," Waguespack added. "When businesses stop taking risks, communities stop growing."
Looking ahead: Reform works. Florida's 2023 legal reforms have already returned nearly $1,000 to some policyholders, proof that fixing a broken civil justice system puts money back in people's pockets. |
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| A Major Opportunity for American Energy |
America is fortunate to have one of the world's most productive offshore energy basins in its own backyard. Now, as the Trump administration finalizes its next offshore leasing program, the Department of the Interior is weighing whether to open a new area to development.
A new analysis by the National Ocean Industries Association and the American Petroleum Institute puts numbers behind opening the South-Central Gulf of America to oil and natural gas leasing.
Why it matters: Starting lease sales in 2029 could support more than 470,000 barrels of oil equivalent per day, 133,000 jobs, and $11.3 billion in annual GDP by 2040. It would also generate $13.1 billion in annual capital investment and nearly $1.5 billion a year in government revenue.
Be smart: Offshore projects take five to seven years to reach first production and can produce for decades after. The leasing decisions made now determine what options America has in 2035 and 2045, not just next year.
Big picture: The Gulf already produces roughly two million barrels of oil a day and employs workers earning an average of $69,650 a year, 29% above the national average. The South-Central Gulf sits next to that existing network of ports, vessels, and skilled labor, ready to put it to work.
Bottom line: Keeping this option open could pay off for generations. |
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| SMALL BUSINESS, BIG IMPACT |
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| FOUNDED: THE SMALL BUSINESSES THAT BUILT AMERICA |
| In honor of America's 250th, we celebrate America's entrepreneurs. |
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| Delysia Chocolatier Crafts Creativity, Connection |
| This Austin-based business has turned a family passion into a celebrated brand. |
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| B20 USA Summit |
| November 9-11 |
| This premier gathering will bring together top private sector leaders and government officials representing 85% of the world’s GDP to help shape policy and advance deals that will drive global growth. |
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| Business Risk Innovation Forum |
| November 16, 8:30 AM – 6:00 PM ET |
| Corporate security chiefs, risk-intelligence professionals, policymakers, and innovators will explore what it takes to thrive amid disruption. |
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| Building America's Future: Skilled Trades Summit |
| Dec. 7 |
| Join the U.S. Chamber Foundation and Hiring Our Heroes as leaders from across the country come together to advance solutions, forge partnerships, and strengthen the skilled trades workforce pipeline. |
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| This e-mail was sent to jcat@stuartmartinchamber.org and contains information directly related to your subscription profile. |
| US Chamber of Commerce, 1615 H Street NW, Washington, DC 20062-2000, United States |
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