Bill Nelson: “while we consider legislation regarding the hard-earned pension benefits of American workers, we have before us a good…”

“while we consider legislation regarding the hard-earned pension benefits of American workers, we have before us a good bill, but flawed bill, which is long overdue. It strengthens company pension plans and ensures that money promised is there to pay for millions of workers' and retirees' benefits. It also enhances retirement savings and retirement security by encouraging more companies to use automatic enrollment in 401(k) pension plans, which ensures workers save more for retirement. Yet despite these positive steps and necessary reforms, I have grave reservations over the inequities contained in the airline relief portion of the bill. We are not here to pick winners and losers in certain industries, yet the differential treatment contained in this legislation would offer one company an unfair advantage over another. Last year's Senate-passed bill contained equitable relief for all, which is the correct approach, and I am appreciative of the work the Senate Finance and the Health, Labor, Education and Pensions Committees put into that effort. This House-passed bill takes a different approach and deals a better hand to some at the expense of others. It is not my intention to delay or hold up the bill because of this provision, but I am seeking assurances for the 13,475 American Airlines workers and retirees in Florida who are counting on us to make changes, in whatever way possible, that will put them on equal footing.”