[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]




                          MORE ON PENSION RAID

  (Mr. POMEROY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. POMEROY. Mr. Speaker, a proposal tucked into the Budget 
Reconciliation Act would unleash a $40 billion raid on employee pension 
plans. During the last 2 nights during special orders, I have invited 
any Member of the majority to come down to the well and defend their 
proposal. No one has. I extend the invitation to the 1-minute speakers 
this morning.
  They cannot do it because we all know, you jeopardize worker pension 
security when you allow $40 billion to be removed. We have done this 
before.
  In the 1980's, $20 billion was removed from employee pension plans 
until Congress passed the laws that stopped this hemorrhage. This 
proposal advanced by House Republicans would allow $40 billion to flow 
out, jeopardizing retirement security for millions of Americans. This 
plan must be stopped.



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