John Kline: “I thank the gentlelady. Madam Speaker, I rise in support of H.R. 4275. I want to thank my colleague, Representative…”

“I thank the gentlelady. Madam Speaker, I rise in support of H.R. 4275. I want to thank my colleague, Representative Susan Brooks, for sponsoring the legislation and for her work on this important issue, and my friend and colleague, Mr. Miller, for his strong support. In recent years, Congress provided a limited number of charities and eligible cooperatives temporary exemption from Federal pension requirements. Our intent was to offer relief to those who faced unsustainable pension obligations. It is now time to provide the certainty and flexibility necessary to plan for the future. Without that certainty, important organizations, such as the Girl Scouts of Minnesota and Wisconsin River Valleys, would have to cut back services and support fewer young women. Without that certainty, farmers would face the prospect of raising food and dairy prices to help make ends meet. Without that certainty, religious charities would be hampered in their ability to serve local communities. And without that certainty, Madam Speaker, utility companies providing electricity to homes and businesses would have to consider raising rates just to meet their pension obligations. That is precisely the reality we now confront. We have a duty to enact responsible rules that provide certainty and protect the pension benefits of workers and retirees. The bill before us today is an attempt to do just that.…”