Political Quotes

“Mr. President, this bill includes an $86 billion no- strings bailout of multiemployer pension plans. It does not belong in the current package. It has nothing to do with COVID. The bailout is not coupled with any reforms. Consequently, there won't be any long- term sustainability. It is just a blank check with no measures to hold plans accountable. Senator Alexander and I spent the last Congress working on a responsible proposal to rescue and reform failing multiemployer pension plans. Without reforms included, the precedent will be that taxpayers, not the PPGC, will be the ultimate guarantors of private employer pensions. In that case, the burden on the taxpayers will not be for the $86 billion. It will be endless as to how much the taxpayers are going to have to pay. Please vote in favor of my motion to commit to consider the reforms necessary to protect the taxpayers and ensure the long-term sustainability of the multiemployer pension system. The PRESIDING OFFICER. The Senator from Ohio.”