the partition proposal, as set forth in Senator Casey's bill, will preserve jobs, preserve retirement security, and protect the employers in our plan.

the legislation proposed by Senator Casey would deal with this legacy-cost problem in a few vital but financially stressed industries

We commend Senator Casey for his leadership in this matter and his co-sponsors for their support.

we are pleased to see the recognition of Senator Casey in allowing plans to survive

defined benefit plans are the best type of retirement vehicle

The multiemployer plans to which we have been contributing have suffered significant investment losses.

We really believe that your proposal will both preserve jobs, preserve retirement security, protect those employers, and, in our view, be less expensive, in the long run, to the PBGC, than if we wait for ultimate insolvency.

We appreciate Senator Casey's leadership in calling attention to the situation facing some multiemployer plans.

That's not true; it's nowhere near true.

This bill is about jobs--maintaining jobs and creating jobs!

I just wanted to ask consent to have entered into the record three letters.

This is not a union bailout--in fact, it is not even a bailout.

That's a stunning statement, after some of the things we've been listening to this week, that somehow--I think there was one publication that referred to these as, 'gold-plated.' That's actually below the poverty level for a family of two…

With respect to the Central States Fund, which will benefit under my bill, the average annual benefit is just over $13,000.

Currently, the maximum PBGC guaranteed benefit is approximately $13,000 for 30 years' service, compared with $54,000 for workers who retire at age 65 in single employer plans.

That's a good example of what we're talking about.

Well, I think the numbers back this up.

Mr. Speaker, in a year when, for the first time in memory, the Pelosi Congress is failing to adopt a budget, I am proud to cosponsor a spending limit amendment that would place a cap on Federal Government spending. Tax rates go up and…