WASHINGTON, DC - Today, Ways and Means Committee Chairman Richard E. Neal (D-MA) released the following statement after the Education and Labor Committee passed H.R. 397, the Rehabilitation for Multiemployer Pensions Act, the first piece of legislation Chairman Neal introduced in the 116th Congress:
“More than a million Americans are in multiemployer pension plans that are quickly running out of money, putting families across the country at risk of unexpected financial hardship. It’s simply not right that - by no fault of their own - these workers and retirees could lose decades’ worth of savings they earned and chose to take instead of wage increases. After lifetimes of financial responsibility, these Americans now face frightening, uncertain futures. Congress has no choice but to address this crisis, and that’s why I introduced the legislation that the Education and Labor Committee passed today. I’m grateful to Chairman Scott and all of the committee members who supported this urgent bill, and I look forward to marking up the legislation in the Ways and Means Committee soon."
