Political Quotes

“To close. Madam Speaker, the distinguished ranking member pointed out that the saving of the multiemployer pension fund would cost about $90 billion. That is right. What she omitted was that estimates of doing nothing with the people losing their pension, they would pay less in income taxes, they would use more social services, and the Federal Government was on the hook for $170 billion if we had done nothing. In other words, we would have to spend $80 billion more to help the people who lost their pensions and the businesses that went broke trying to save those pension plans. But in any case, Madam Speaker, the time to fix the roof is when the Sun is shining. We have gotten past the crisis. Let's find out what we need to do to avoid the possibility that these pension funds might be back here 20 years from now in a state of failure. We need to make sure we fix it. Let's get these recommendations. That is why this amendment is so important that it will guarantee getting the information so we can fix these plans once and for all. Madam Speaker, I yield back the balance of my time.”