I am pleased that we are proceeding on the Railroad Retirement and Survivors' Improvement Act. This important legislation will modernize the retirement system by giving rail employers and employees more responsibility and accountability for a private pension plan. Moreover, the bill permits the reduction of payroll taxes and improves benefits for widows and widowers. The overwhelmingly success of today's vote, which transcended party lines and ideological persuasions, shows what can be accomplished when all parties work together. This was a victory for the workers in the yard, all the railroads and especially for the survivors of retirees. I am hopeful that we can build on today's momentum. This is a smart bill with bipartisan support. The consensus is that it makes sense to modernize the railroad retirement system in a way that increases benefits for railroad retirees and their families.
Editor's note · Context
Discussing the Railroad Retirement and Survivors' Improvement Act during a floor speech.
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