Chairman Scott Praises Passage of Bipartisan Solution to the Multiemployer Pension Crisis
WASHINGTON – Chairman Bobby Scott (VA-03) issued the following statement after the House voted to pass bipartisan legislation to protect the retirement benefits of more than one million Americans. H.R. 397, commonly known as the Butch Lewis Act, would help shield retirees, families, and communities from the potentially devastating consequences of the multiemployer pensions crisis.
“Over the past few decades, construction workers, truck drivers, industrial bakers, coal miners, and other hardworking Americans did everything they could to prepare themselves and their families for a secure retirement. Year after year, these workers negotiated with their employers to defer wages in return for the promise of a pension that would allow them to retire with dignity. Now, through no fault of their own, the pensions they earned over their lifetimes – and the retirement security they were promised – are in jeopardy.
“The Rehabilitation for Multiemployer Pensions Act, commonly known as the Butch Lewis Act, is a bipartisan solution to avert this financial disaster that will end up saving taxpayers billions of dollars.”
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