Thomas Daschle: “The last few years have been among the worst in history for the American steel industry. In just the last 2 years, 31…”

“The last few years have been among the worst in history for the American steel industry. In just the last 2 years, 31 steel companies have filed for bankruptcy. Since January of 2000, more than 50 steel-making or related plants have shut down or been idle. Steel prices are now at their lowest level in 20 years. This crisis has been devastating for steelworkers, their families, and communities. Over 43,000 steelworkers have lost their jobs, and another 600,000 retirees and their surviving spouses are in danger of losing their health care benefits because the companies that once employed them are now facing bankruptcy. A number of those families are in Washington today. In talking with them, one quickly realizes the numbers do not even begin to capture the pain they are feeling and the insecurity they face about their very future. These families are hurting because this important sector of our economy is competing against global competitors who unfairly benefit from government subsidies or have resorted to flooding our Nation with imports.”