[Congressional Record Volume 141, Number 177 (Thursday, November 9, 1995)]
[House]
[Page H11979]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       RAIDING WORKERS' PENSIONS

  (Mr. KLECZKA asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KLECZKA. Mr. Speaker, I also come to the floor this morning to 
talk about a provision passed by this House which will have the effect 
of raiding workers' pensions to the tune of $40 billion.
  Mr. Speaker, this House passed legislation to do just that. When this 
item was before the committee, I introduced an amendment to strike it, 
knowing full well that workers' pensions are their retirement, not to 
be used by corporations for any purpose. That amendment failed on a 
party-line vote.
  Mr. Speaker, I then introduced an amendment to have corporations 
inform workers when they are going to reduce the pension plans. That 
failed on a party-line vote. We could not even inform the workers what 
the corporation is doing to their pension guarantee. That item came 
before us under the guise of corporate welfare.
  Mr. Speaker, my colleagues know full well that the pension plans 
might be overfunded today because of a strong stock market, but a 
downturn in the stock market by at least 1 or 2 percent would have 
those pensions in default.
  So, Mr. Speaker, I say to my colleagues, and especially Newt 
Gingrich, keep your paws off of worker pensions.

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