[Congressional Record Volume 146, Number 91 (Friday, July 14, 2000)]
[Extensions of Remarks]
[Page E1244]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               INTRODUCTION OF THE RAIL RETIREMENT REFORM

                                 ______
                                 

                            HON. BUD SHUSTER

                            of pennsylvania

                    in the house of representatives

                        Thursday, July 13, 2000

  Mr. SHUSTER. Mr. Speaker, as Chairman of the Committee on 
Transportation and Infrastructure, I am very pleased to introduce today 
H.R. 4844, the Railroad Retirement and Survivors' Improvement Act of 
2000, on behalf of myself, the Ranking Member of the Committee on 
Transportation and Infrastructure, Mr. Oberstar; the Chairman of the 
Committee on Ways and Means, Mr. Archer; the Ranking Member of the 
Comrmittee on Ways and Means, Mr. Rangel; the Chairman of the Ground 
Transportation Subcommittee, Mr. Petri; the Ranking Member of the 
Ground Transportation Subcommittee, Mr. Rahall; the Chairman of the 
Social Security Subcommittee, Mr. Shaw; and the Ranking Member of the 
Social Security Subcommittee, Mr. Matsui.
  This is a good bill which deserves the support of the House. The 
following is a joint statement on behalf of the eight original 
sponsors.

    Joint Statement of The Eight Original Sponsors of The Railroad 
           Retirement and Survivors' Improvement Act of 2000

       We are pleased to join together to introduce the Railroad 
     Retirement and Survivors' Improvement Act of 2000. This 
     legislation will make important improvements in the railroad 
     retirement program.
       The introduction of this legislation by the bipartisan 
     leadership of the two House committees with jurisdiction over 
     this program represents a significant step toward enactment. 
     We are pleased that Congress continues to have the close 
     working relationship with railroad management and labor 
     groups that has allowed us to come together on this bill 
     today.
       This reform legislation makes several improvements in the 
     current benefit structure, especially for widows and 
     widowers. In addition, the legislation modernizes the 
     system's investment practices and strengthens the financing 
     of the program.
       This legislation is the product of several years of complex 
     negotiations between rail management and rail labor. These 
     negotiations were also given impetus by the September 1998 
     hearing held by the Subcommittee on Ground Transportation on 
     benefit reform legislation authored by our colleague Jack 
     Quinn. Although not all representatives of rail labor could 
     support the final compromise signed in January of this year, 
     a significant majority have endorsed the agreement, as have 
     the groups representing rail retirees. We hope that as this 
     bill moves through the legislative process, the full value of 
     the benefits it brings to the system will be carefully 
     assessed, and that it will ultimately receive the support of 
     all groups.
       The Railroad Retirement and Survivors' Improvement Act of 
     2000 is the end product of a bipartisan collaborative 
     process. It is a bill that each of us supports and is 
     committed to bring to enactment during the remaining days of 
     the 106th Congress. We are pleased to introduce it today.

     

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