Tim Walberg: “I want to make note that, as we discuss this here today, there have been points made about businesses wanting this…”

“I want to make note that, as we discuss this here today, there have been points made about businesses wanting this change, they want to work with the States, and they are concerned about liabilities. Well, if that were the case, we wouldn't have endorsements of this coming from the Chamber of Commerce, Air Conditioning Contractors of America, American Benefits Council, NFIB, just looking through, the Small Business and Entrepreneurship Council, National Federation of Independent Business, National Electrical Contractors Association, National Black Chamber of Commerce, and I could go on and on, businesses and the business associations and groups that deal with this and have concern about their employees, their retirees, having a good and safe mechanism by which to have their retirement savings protected, supporting our efforts here to take back what took place under the cover of darkness, as it were, which took retiree savings off the benefit of ERISA. I just want that to be made clear. I reserve the balance of my time.”