[Congressional Record Volume 143, Number 27 (Wednesday, March 5, 1997)]
[Extensions of Remarks]
[Page E384]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      INTRODUCTION OF LEGISLATION TO REFORM CONGRESSIONAL PENSIONS

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                           HON. BOB GOODLATTE

                              of virginia

                    in the house of representatives

                        Wednesday, March 5, 1997

  Mr. GOODLATTE. Mr. Speaker, calls for reduced Government spending 
have echoed throughout this great Nation of ours. Unfortunately, all 
too often the voices of the people have not been heard by this Chamber. 
When these cries have been heard, the response has simply 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. 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' pension. It changes the equation so that our pension plan is 
the same as that of any other Federal employee. It also increased 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 America. 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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