I rise in support of this Legacy Relief Program because the retiree costs in the industry are surely the highest costs that are paid by the industry. In the case of a steel company that ceases operation on or after January 1, 2000, current and future retirees, surviving spouses and dependents who are eligible for retiree health insurance at the time the company ceases operation shall be eligible to receive assistance. That is what our steel companies need. The percentage of the cost of retiree health care costs far exceeds the other costs of a steel company remaining in place. As we have talked over the past weeks of being in an economic crisis as a result of September 11, the steel industry is in an economic crisis, not just because of September 11, but because of the failure of our Nation to come up with a program that adequately addresses the steel industry.
Editor's note · Context
Speaking in support of the Legacy Relief Program for steel industry retirees during a discussion on economic challenges.
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