Political Quotes

“I thank Chairman Scott for yielding. In Oregon and across the country, people have worked hard to provide themselves and their families with a secure retirement by contributing a portion of their income to pensions. But now, through no fault of their own, too many of these hardworking Americans find that their pension plans are struggling, and without intervention, these plans will become insolvent, putting the retirement security of about 1.3 million people at risk. The bipartisan Rehabilitation for Multiemployer Pensions Act, the Butch Lewis Act, will help protect retirees, workers, and employers by creating the Pension Rehabilitation Administration to issue bonds to finance loans for critical and declining status multiemployer pension plans. Importantly, this bill does not cut benefits for workers and retirees, benefits they have earned. Workers, families, businesses, and retirees are counting on Congress to address the growing retirement security crisis in our country and protect the benefits workers have earned over their lifetime. This bipartisan bill is one important piece of the solution to address the multiemployer pension crisis, and I urge all of my colleagues to join me in supporting it. I thank Chairman Scott and Chairman Neal for their leadership on this issue.”