The Legal Environment and Economic Gains

The U.S. Chamber Institute for Legal Reform released a report estimating the potential gains of each state if the legal environment is improved at its 12th Annual Legal Reform Summit this week.

“Americans are rightly frustrated about the current state of the economy,” explained Lisa A. Rickard, president at ILR. “Unfortunately, America’s broken lawsuit system hampers the ability of American businesses to create jobs and drive much-needed economic growth.
“At times when states are facing tight budgets and sluggish economic growth, this new study shows that actions by states to improve their legal environments can produce real economic dividends.

Rickard was joined by the U.S. Chamber of Commerce President and CEO Thomas J. Donohue, as well as House Speaker John Boehner, South Carolina Governor Nikki Haley and Virginia Governor Bob McDonnell at the summit.