U.S. Senator Tammy Baldwin Applauds Treasury Department’s Decision to Reject Deep Pension Cuts for Workers and Retirees
Senator Baldwin joined Wisconsinites in calling for rejection of Central States Pension Fund application to destroy retirement security for working families
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin applauded today’s decision from the U.S. Treasury Department to reject cuts proposed by the Central States Pension Fund. If the Treasury Department approved the Central States application to reduce benefits, 25,000 Wisconsinites would have faced deep cuts in the pensions they have earned over a lifetime of work.
“Hardworking people who build their future should never have to doubt their retirement security. Today’s decision from the Treasury Department to reject these devastating cuts comes with great relief for me and working families across our state,” said Senator Baldwin. “I have heard the stories from Wisconsinites who worked hard, played by the rules and would have faced financial ruin if these retirement cuts were implemented. I’m proud to stand with working families and win this fight to protect the retirement security they have worked for, planned for and depend on.”
Senator Baldwin has been fighting to preserve this pension promise made to thousands of workers. Last month, she called on the Treasury Department to reject the Central States application, and last week she spoke directly with Secretary of the Treasury Jack Lew, urging the Barack Obama Administration to reject the proposal to cut pensions.
In addition, Senator Baldwin joined every member of the Democratic caucus in sending a letter to Secretary of the Treasury Jack Lew regarding Central States Pension Fund’s application to reduce its participants’ pension benefits. In February, Senator Baldwin wrote to the Treasury Department urging that pension benefits be protected. In the letter to Special Master for Implementation, Kenneth Feinberg – who was tasked with overseeing the application of proposed benefit cuts – Senator Baldwin asked for these promises to be kept to their fullest potential.
Senator Baldwin is an original cosponsor of the Keep Our Pensions Promises Act – a bill to reverse deep pension cuts for retirees and workers in multi-employer pension plans. The Keep Our Pension Promises Act will protect the pensions of up to 10 million Americans and is paid for by eliminating a loophole in the estate tax and a tax break on sales of expensive art and other collectibles.
Press Releases by Tammy Baldwin
Senators Call for Independent Prosecutor to Investigate Trump Officials’ Collusion with Russia and Apparent White House Cover-UpFeb 15th, 2017 by Tammy Baldwin
Senators to Sessions: “At stake is the integrity and honesty of our most trusted public officials and the viability of our justice system”
U.S. Senators Tammy Baldwin and Thom Tillis Introduce Bipartisan Legislation to Support Job Creation for America’s VeteransFeb 14th, 2017 by Tammy Baldwin
The BRAVE Act creates incentives for businesses to employ our veterans
"Dr. Shulkin has the experience and qualifications to provide the leadership necessary to get the job done..."
U.S. Senator Tammy Baldwin Urges New FCC Chair to Reverse Decision Threatening Low-Income Americans’ Broadband AccessFeb 10th, 2017 by Tammy Baldwin
Chairman Pai recently revoked the recognition of nine companies as providers for a critical program that has helped tens of millions of low-income Americans afford broadband service.
Baldwin, Warren Seek Information On Goldman Sachs’ Role In and Influence over Trump Administration Economic PoliciesFeb 10th, 2017 by Tammy Baldwin
Company stock up dramatically as former Goldman executive Gary Cohn and other Goldman bankers joined Trump Administration
U.S. Senator Tammy Baldwin Demands Answers About Outrageous Price Hike For Lifesaving Anti-Overdose DrugFeb 8th, 2017 by Tammy Baldwin
"...this startling price hike is very concerning."