Texas Border Business
- Advertisement -
By US Chamber of Commerce
A study from the Chamber’s Institute for Legal Reform finds the U.S. tort system cost $443 billion–2.1% of GDP and $3,621 per household—in 2020.
Why it matters: The costs of the tort system are skyrocketing, increasing costs for businesses and consumers.
- Advertisement -
And: Despite the high price tag, only 53 cents of every dollar go to plaintiffs. The rest covers litigation costs and other expenses
Our take: “Our lawsuit system is expensive and broken,” explained Institute for Legal Reform President Harold Kim. “Every household in the U.S. is footing the bill—through higher prices on everything from household products, services, and insurance costs—for a system that serves them poorly, if at all.”
- Advertisement -
