U.S. Senator Tammy Baldwin Statement on the House and Senate Joint Select Committee on Pensions Announcement
Pension crisis remains for 25,000 workers and retirees in Wisconsin
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin released the following statement after the House and Senate Joint Select Committee on Pensions announced that they had not reached a bipartisan agreement on a solution to the pension crisis threatening 1.3 million Americans, including 25,000 workers and retirees in Wisconsin, and thousands of small businesses around the country. The Joint Select Committee was tasked with coming up with a package by November 30 that could be voted on in Congress but they announced they would not meet today’s deadline.
“Pension promises must be kept and it’s simply wrong that Washington has once again failed to protect the retirement security of 25,000 workers and retirees in Wisconsin and put small businesses on the hook for a pension liability that may cost them everything,” said Senator Baldwin. “I am disappointed that the Joint Select Committee on Pensions failed to reach a bipartisan agreement this week to resolve the multiemployer pension crisis. I will continue to stand with retirees and workers in our fight because they should be able to count on the pensions they have earned. They will not stop until the job is done and I will not stop until the job is done to keep this promise.”
Senator Baldwin is not a member of the House and Senate Joint Select Committee on Pensions but she has cosponsored the Butch Lewis Act to ensure American retirees and workers can keep the retirement they have earned so their families and livelihoods are not put at risk. Specifically, the legislation would allow the Treasury Department to make loans, leveraged by safe investments, to pension plans to ensure that retirees and their families are guaranteed their promised benefits. The Butch Lewis Act would put the pension plans back on solid footing, ensure they can meet their obligations to current retirees and workers for decades to come without cutting the benefits retirees earned and safeguard them for the future.
Mentioned in This Press Release
Recent Press Releases by U.S. Sen. Tammy Baldwin
U.S. Senator Tammy Baldwin Introduces Bipartisan Reform to Rebuild Stronger Roads and Bridges Following Severe Weather EventsJul 16th, 2019 by U.S. Sen. Tammy Baldwin
"In recent years, communities in Wisconsin have been hit particularly hard by severe weather events and flooding that has washed out roads and damaged highways and bridges."
U.S. Senator Tammy Baldwin Joins Introduction of Legislation to Stop the Cruel and Neglectful Treatment of Children at BorderJul 12th, 2019 by U.S. Sen. Tammy Baldwin
The Stop Cruelty to Migrant Children Act would create clear, non-negotiable standards for the treatment of children in America’s care
Baldwin, Cornyn Legislation to Support Veterans Experiencing Bankruptcy Passes House Judiciary CommitteeJul 11th, 2019 by U.S. Sen. Tammy Baldwin
Bill would amend current bankruptcy law to protect veterans experiencing financial hardship