The LA Times today is reporting that the House of Representatives have capped automaker's liability for safety violations at $200 million. That seems like a high number doesn't it?
Although the bill no longer provides for unlimited fines against automakers who violate safety laws, the $200-million cap in the House version is substantially larger than the current $16.4-million maximum, which Toyota paid this spring for failing to promptly order a recall of sticking gas pedals. The Senate version has a cap of $300 million.
Federal regulators said at the time that Toyota's liability would have been $13.8 billion had it not been for the existing cap.
I can almost hear Carl Sagan saying 13.8 billion.
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