Tort Reformers have a problem. They can push through laws that limit damages by harping on the “litigation lottery,” but inevitably, people will start to realize that what those laws do is essentially declare “You, an individual citizen, cannot possibly be harmed more then this amount.” This statement doesn’t sit well with most people, since Americans tend to recoil from legislative fiat. So now, the tort reformers have another tact they’re trying: the tort system needs to be reformed because plaintiff’s attorneys are making too much money.
Comes now a Colorado ballot initiative, aimed at severely limiting attorney’s fees. The initiative would have set a schedule for contingency fees, reducing from the standard 30%, down to 20% and then to 10% as the amount of the jury award rises. It also would have set a severe limit on overall contingencies, essentially allowing the percentage to plummet with no bottom in certain circumstances.