[Congressional Record Volume 148, Number 59 (Friday, May 10, 2002)]
[Extensions of Remarks]
[Page E770]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    SAVING AMERICA'S STEEL INDUSTRY

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                               speech of

                           HON. FRANK MASCARA

                            of pennsylvania

                    in the house of representatives

                         Wednesday, May 8, 2002

       Providing for disposition of H.J. Res. 84, Disapproving the 
     action taken by the President under Section 203 of the Trade 
     Act of 1974 transmitted to the Congress on March 5, 2002.

  Mr. MASCARA. Mr. Chairman, Mr. Speaker, I rise today in support of 
the rule and, more importantly, in support of our steel industry that 
was on the brink of collapse.
  I want to use my time to address one of the most vital issues facing 
the industry today: legacy costs. As scores of companies have been 
forced to declare Chapter 11 bankruptcy since the flood of steel 
imports began hitting our shores in 1997, retirement promises these 
companies made, in many cases, have been broken. These broken promises 
have left many steel retirees, through no fault of their own, without 
the health and other benefits they had been counting on their entire 
working lives.
  That is why I am proud to be an original co-sponsor of H.R. 4646, the 
Steel Industry Legacy Relief Act. This groundbreaking legislation will 
ensure that the promises made to the thousands of steel retirees are 
kept.
  Under this legislation, the Federal Government will create and 
support a program of health insurance for the retirees of steel, iron 
ore, and coke companies. Similar to the way the Federal Government 
bolstered the health care safety net for retired mine-workers, it is 
time for the government to step up to the plate and help steel workers.
  The Administration has taken a very important first step. By imposing 
temporary tariffs on a broad range of steel products for up to 3 years, 
the Administration has given the industry an extraordinary opportunity 
to get back on its feet.
  While the actions by the Administration were unprecedented, by 
themselves, they are insufficient to fully help the industry recover, 
We must enact H.R. 4646 into law and put the industry on a sound 
financial footing once and for all.
  Finally, let me say, I recognize that we live in a global economy and 
that the United States must be economically engaged with the rest of 
the world. However, we must not let the ideology of free trade trump 
all other values and blind us to the inequities that trade imposes on 
many sectors of our economy.
  Therefore, I urge my colleagues to vote ``yes'' on the rule.

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