[Congressional Record Volume 140, Number 39 (Wednesday, April 13, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: April 13, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
              LEGISLATION TO REFORM CONGRESSIONAL PENSIONS

                                 ______


                           HON. BOB GOODLATTE

                              of virginia

                    in the house of representatives

                       Wednesday, April 13, 1994

  Mr. GOODLATTE. Mr. Speaker, calls for reduced Government spending 
have echoed throughout this great Nation of ours. Unfortunately, the 
voices of the people have often been ignored by this Chamber. When 
these cries have been heard, the response has been to shift the burden 
of budget cuts. I believe the time has come for the Members of Congress 
to lead by example.
  Today, I have introduced legislation that demonstrates to the 
American people the steadfast commitment of this Congress to fight 
against excessive spending by tackling the largest perk in Government--
Congressional pension plans.
  Our retirement benefits are ridiculously more lucrative than those of 
many private sector and all Federal employees. Some Members of Congress 
make more in retirement than most Americans could hope to make in a 
lifetime. In fact, the National Taxpayers Union estimates that over 180 
Members will collect over $1 million each in lifetime benefits. My 
legislation will slam shut the doors of this Congressional pension 
millionaires club.
  The bill I have sponsored recalibrates the formula used to calculate 
Members' pensions. It changes the equation so that our pension plan is 
the same as that of any other Federal employee. It also increases the 
age at which a former Member may begin to collect their benefits from 
age 50 to age 55.
  The time has come for us to address the gross disparities between 
congressional retirement benefits and those of the average American. 
The era of governmental abuse has come to a close and the buck stops 
with us. I urge my fellow Members to hear the calls of the American 
people, and demonstrate your leadership by setting the example and 
cosponsoring this legislation.

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