(WASHINGTON) – Today, Senator Sherrod Brown (D-OH) shared his belief that the Joint Select Committee on Solvency of Multiemployer Pension Plans will find a solution to the growing pension crisis this year during his remarks at the National Press Club.
Brown, who co-chairs the bipartisan committee with Sen. Orrin Hatch (R-UT), spoke at length about what was at stake if Congress did not pass legislation to address a pension crisis that would impact millions of retired and active workers.
“It will be up to Congress to step in, or allow the entire multiemployer pension system to fail – eviscerating the retirement of 10.1 million American workers and retirees, and forcing American businesses to file bankruptcy, lay off workers, and close their doors,” Brown said. “As dysfunctional as Washington is, I don’t see a scenario where Congress allows that type of devastation without stepping in.”
The committee, which is comprised of eight senators and eight members of the House evenly divided by party, will work toward reporting a bill to solve the pension crisis. The Teamsters Union supports the passage of the Butch Lewis Act of 2017 (H.R.4444/S.2147) which was introduced in Congress last November by Sen. Sherrod Brown (D-OH) and Rep. Richard Neal (D-MA) and has received bipartisan support.
“Sen. Brown has been leading the charge on this issue since day one,” said Teamsters General President Jim Hoffa. “He knows what’s at stake and understands that no worker should be denied what they worked so hard their entire career to earn – the ability to retire with dignity.”
“People of both political parties talk about the American Dream – about the idea that if you work hard, you can earn your way to a better life,” Brown said. “These Americans worked hard. They earned a living and they earned a secure retirement. We should all be able to come together to affirm the principle that hard work should pay off. And I believe we will.”
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and “like” us on Facebook at www.facebook.com/teamsters.