Political Quotes

“I yield myself such time as I may consume. Mr. Speaker, my amendment would require GAO to do a study on the impact of this legislation on employee ownership. When employees are offered the opportunity to have an ownership stake in the place they work, there are benefits for both workers and businesses in our entire economy. Many studies have shown that employee ownership increases productivity, promotes employee retention and stability, and has long- term growth benefits for the business. I believe that the underlying legislation is an important first step to increase employee ownership opportunities, but we should want to make sure that opportunities for participation are widely available to employees at different income levels. The amendment also requests the GAO to see the effect of this legislation on the diversification of securities held in ERISA-governed retirement plans. As we all know, diversification in any type of financial portfolio can help weather dramatic fluctuations in the economy and limit financial risk for retirees. By requesting the GAO study, we will be able to understand this legislation's full impact on employee ownership and make necessary changes and improvements in the future. I yield to the gentleman from Illinois (Mr. Hultgren) for the purpose of a colloquy.”