> America needs "loser pays tort reform".

That would be awful.

A lot of lawsuits are done on contingency because the litigant can't afford to pay their own legal bills. It would for sure have a chilling effect if you sue a big company and then you have to declare bankruptcy if you lose.

Loser pays causes higher legal fees, because on average, one only has to pay half of one's own fees, and also because losing becomes more costly making it worth it to spend more to try to avoid losing.