Texans for Lawsuit Reform announced that rising tort costs are increasing the price of many goods and services, effectively adding to everyday expenses for families.
According to Texans for Lawsuit Reform, these rising tort costs quietly add to the price of nearly everything families purchase, from groceries to home repairs. The organization said that lawsuit abuse functions like an inflation tax embedded in daily life, with even small percentage increases accumulating over time. “Families feel it daily, whether they realize it or not,” according to the post which included an illustrative image.
The organization’s data indicates that Texas tort costs reached nearly $48 billion in 2022, amounting to an average of $4,594 per household in the state. Reforms have reportedly lowered liability costs for occupations and reduced the number of frivolous lawsuits filed.
Nationwide, costs and compensation in the U.S. tort system totaled over $529 billion in 2022. This figure equates to more than $4,200 per household across the country. Excessive litigation is said to eliminate 4.8 million jobs and stifle economic innovation.
Texans for Lawsuit Reform (TLR) serves as a leading advocate in Texas for a fair and balanced civil justice system. Its mission supports freedom, innovation, and job creation through an efficient and predictable legal framework led by independent judges. Over its 30-year history, TLR’s successful promotion of tort reform has helped Texas achieve the eighth largest economy globally and host more Fortune 500 companies than any other state.