Tom Price: “did you hear the news this morning? The U.S. Bankruptcy Court allowed United Airlines to default, to end four pension…”

“did you hear the news this morning? The U.S. Bankruptcy Court allowed United Airlines to default, to end four pension plans. They will be transferred to the Federal Pension Benefit Guarantee Corporation and ultimately the American taxpayer. Unless Congress acts, other major airlines will follow the same path and end their pension plans, the cost of which will ultimately be borne by the taxpayers. We need to act now. Hard-working taxpayers are already on the line for nearly $10 billion in unfunded pension liabilities from just two airlines that are in bankruptcy. There is a solution: H.R. 2106. This bill limits taxpayer liability and allows responsible companies to manage their pension liabilities. It makes certain that airline carriers meet their current obligations with no subsidy from the Federal Government, the taxpayers. Mr. Speaker, when major airlines file for bankruptcy, taxpayers lose, employees are out of jobs, retirements are jeopardized, and the economy suffers. We should act now on behalf of the American taxpayer. More bankruptcy headlines are coming unless we move responsibly, and I ask my colleagues to join me in this important and vital matter to save jobs, retirements, and taxpayer money. Support H.R. 2106. ____________________”