Tom Udall: “I strongly support H.R. 1140, the Railroad Retirement and Survivors' Improvements Act of 2001. This critical legislation…”

“I strongly support H.R. 1140, the Railroad Retirement and Survivors' Improvements Act of 2001. This critical legislation makes important improvements in the benefit structure for retired railroad workers, especially for widows and widowers. After many railroad bankruptcies during the Depression, the government assumed responsibility for workers' pensions, financed with a special payroll tax paid by both rail concerns and their employees. The system is now $40 billion short of what would be required to pay benefits to all the workers who have yet to retire and their survivors. Congress has a responsibility to provide railroad retirees and their survivors with increased benefits, as well as making necessary changes to update and modernize the railroad employee benefit system. To that end, I urge my colleagues to join me in support of H.R. 1140. More than 670,000 retirees and dependents and 245,000 active rail employees will benefit from the improvements made by the Railroad Retirement and Survivors' Improvement Act of 2001. Please support our nation's railroad workers, rail retirees and spouses by supporting this critical reform package. Vote yes on H.R. 1140.”