[Congressional Record Volume 168, Number 125 (Wednesday, July 27, 2022)]
[House]
[Pages H7211-H7220]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                       SUSAN MUFFLEY ACT OF 2022

  Mr. KILDEE. Madam Speaker, pursuant to House Resolution 1254, I call 
up the bill (H.R. 6929) to increase the benefits guaranteed in 
connection with certain pension plans, and for other purposes, and ask 
for its immediate consideration in the House.
  The Clerk read the title of the bill.
  The SPEAKER pro tempore. Pursuant to House Resolution 1254, the 
amendment printed in part D of House Report 117-432 is adopted, and the 
bill, as amended, is considered read.
  The text of the bill, as amended, is as follows:

                               H.R. 6929

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Susan Muffley Act of 2022''.

     SEC. 2. GUARANTEED BENEFIT CALCULATION FOR CERTAIN PLANS.

       (a) In General.--
       (1) Increase to full vested plan benefit.--
       (A) In general.--For purposes of determining what benefits 
     are guaranteed under section 4022 of the Employee Retirement 
     Income Security Act of 1974 (in this section referred to as 
     ``ERISA'') with respect to an eligible participant or 
     beneficiary under a covered plan specified in paragraph (4) 
     in connection with the termination of such plan, the amount 
     of monthly benefits shall be equal to the full vested plan 
     benefit with respect to the participant.
       (B) No effect on previous determinations.--Nothing in this 
     Act shall be construed to change the allocation of assets and 
     recoveries under sections 4044(a) and 4022(c) of ERISA as 
     previously determined by the Pension Benefit Guaranty 
     Corporation (in the section referred to as the 
     ``corporation'')

[[Page H7212]]

     for the covered plans specified in paragraph (4), and the 
     corporation's applicable rules, practices, and policies on 
     benefits payable in terminated single-employer plans shall, 
     except as otherwise provided in this section, continue to 
     apply with respect to such covered plans.
       (2) Recalculation of certain benefits.--
       (A) In general.--In any case in which the amount of monthly 
     benefits with respect to an eligible participant or 
     beneficiary described in paragraph (1) was calculated prior 
     to the date of enactment of this Act, the corporation shall 
     recalculate such amount pursuant to paragraph (1), and shall 
     adjust any subsequent payments of such monthly benefits 
     accordingly, as soon as practicable after such date.
       (B) Lump-sum payments of past-due benefits.--Not later than 
     180 days after the date of enactment of this Act, the 
     corporation, in consultation with the Secretary of the 
     Treasury and the Secretary of Labor, shall make a lump-sum 
     payment to each eligible participant or beneficiary whose 
     guaranteed benefits are recalculated under subparagraph (A) 
     in an amount equal to--
       (i) in the case of an eligible participant, the excess of--

       (I) the total of the full vested plan benefits of the 
     participant for all months for which such guaranteed benefits 
     were paid prior to such recalculation, over
       (II) the sum of any applicable payments made to the 
     eligible participant; and

       (ii) in the case of an eligible beneficiary, the sum of--

       (I) the amount that would be determined under clause (i) 
     with respect to the participant of which the eligible 
     beneficiary is a beneficiary if such participant were still 
     in pay status; plus
       (II) the excess of--

       (aa) the total of the full vested plan benefits of the 
     eligible beneficiary for all months for which such guaranteed 
     benefits were paid prior to such recalculation, over
       (bb) the sum of any applicable payments made to the 
     eligible beneficiary.
     Notwithstanding the previous sentence, the corporation shall 
     increase each lump-sum payment made under this subparagraph 
     to account for foregone interest in an amount determined by 
     the corporation designed to reflect a 6 percent annual 
     interest rate on each past-due amount attributable to the 
     underpayment of guaranteed benefits for each month prior to 
     such recalculation.
       (C) Eligible participants and beneficiaries.--
       (i) In general.--For purposes of this section, an eligible 
     participant or beneficiary is a participant or beneficiary 
     who--

       (I) as of the date of the enactment of this Act, is in pay 
     status under a covered plan or is eligible for future 
     payments under such plan;
       (II) has received or will receive applicable payments in 
     connection with such plan (within the meaning of clause (ii)) 
     that does not exceed the full vested plan benefits of such 
     participant or beneficiary; and
       (III) is not covered by the 1999 agreements between General 
     Motors and various unions providing a top-up benefit to 
     certain hourly employees who were transferred from the 
     General Motors Hourly-Rate Employees Pension Plan to the 
     Delphi Hourly-Rate Employees Pension Plan.

       (ii) Applicable payments.--For purposes of this paragraph, 
     applicable payments to a participant or beneficiary in 
     connection with a plan consist of the following:

       (I) Payments under the plan equal to the normal benefit 
     guarantee of the participant or beneficiary.
       (II) Payments to the participant or beneficiary made 
     pursuant to section 4022(c) or otherwise received from the 
     corporation in connection with the termination of the plan.

       (3) Definitions.--For purposes of this subsection--
       (A) Full vested plan benefit.--The term ``full vested plan 
     benefit'' means the amount of monthly benefits that would be 
     guaranteed under section 4022 of ERISA as of the date of plan 
     termination with respect to an eligible participant or 
     beneficiary if such section were applied without regard to 
     the phase-in limit in subsection (b)(1) of such Act and the 
     maximum guaranteed benefit limitation in subsection (b)(3) of 
     such Act (including the accrued-at-normal limitation).
       (B) Normal benefit guarantee.--The term ``normal benefit 
     guarantee'' means the amount of monthly benefits guaranteed 
     under such section with respect to an eligible participant or 
     beneficiary without regard to this Act.
       (4) Covered plans.--The covered plans specified in this 
     paragraph are the following:
       (A) The Delphi Hourly-Rate Employees Pension Plan.
       (B) The Delphi Retirement Program for Salaried Employees.
       (C) The PHI Non-Bargaining Retirement Plan.
       (D) The ASEC Manufacturing Retirement Program.
       (E) The PHI Bargaining Retirement Plan.
       (F) The Delphi Mechatronic Systems Retirement Program.
       (5) Treatment of pbgc determinations.--Any determination 
     made by the corporation under this section concerning a 
     recalculation of benefits or lump-sum payment of past-due 
     benefits shall be subject to administrative review by the 
     corporation. Any new determination made by the corporation 
     under this section shall be governed by the same 
     administrative review process as any other benefit 
     determination by the corporation.
       (b) Trust Fund for Payment of Increased Benefits.--
       (1) Establishment.--There is established in the Treasury of 
     the United States a trust fund to be known as the ``Delphi 
     Full Vested Plan Benefit Trust Fund'' (hereafter in this 
     subsection referred to as the ``Fund''), consisting of such 
     amounts as may be appropriated or credited to the Fund as 
     provided in this section.
       (2) Funding.--There is appropriated from the general fund 
     such amounts as are necessary for the costs of the payment of 
     the portion of monthly benefits guaranteed to a participant 
     or beneficiary pursuant to subsection (a) and for necessary 
     administrative and operating expenses of the corporation 
     relating to such payment. The Fund shall be credited with 
     amounts from time to time as the Secretary of the Treasury, 
     in conjunction with the Director of the corporation, 
     determines appropriate, from the general fund of the 
     Treasury.
       (3) Expenditures from fund.--Amounts in the Fund shall be 
     available for the payment of the portion of monthly benefits 
     guaranteed to a participant or beneficiary pursuant to 
     subsection (a) and for necessary administrative and operating 
     expenses of the corporation relating to such payment.
       (c) Regulations.--The corporation, in consultation with the 
     Secretary of the Treasury and the Secretary of Labor, may 
     issue such regulations as necessary to carry out this 
     section.
       (d) Tax Treatment of Lump-Sum Payments.--
       (1) In general.--Unless the taxpayer elects (at such time 
     and in such manner as the Secretary may provide) to have this 
     paragraph not apply with respect to any lump-sum payment 
     under subsection (a)(2)(B), the amount of such payment shall 
     be included in the taxpayer's gross income ratably over the 
     3-taxable-year period beginning with the taxable year in 
     which such payment is received.
       (2) Special rules related to death.--
       (A) In general.--If the taxpayer dies before the end of the 
     3-taxable-year period described in paragraph (1), any amount 
     to which paragraph (1) applies which has not been included in 
     gross income for a taxable year ending before the taxable 
     year in which such death occurs shall be included in gross 
     income for such taxable year.
       (B) Special election for surviving spouses of eligible 
     participants.--If--
       (i) a taxpayer with respect to whom paragraph (1) applies 
     dies,
       (ii) such taxpayer is an eligible participant,
       (iii) the surviving spouse of such eligible participant is 
     entitled to a survivor benefit from the corporation with 
     respect to such eligible participant, and
       (iv) such surviving spouse elects (at such time and in such 
     manner as the Secretary may provide) the application of this 
     subparagraph,
     subparagraph (A) shall not apply and any amount which would 
     have (but for such taxpayer's death) been included in the 
     gross income of such taxpayer under paragraph (1) for any 
     taxable year beginning after the date of such death shall be 
     included in the gross income of such surviving spouse for the 
     taxable year of such surviving spouse ending with or within 
     such taxable year of the taxpayer.

     SEC. 3. PENSION VARIABLE RATE PREMIUM PAYMENT ACCELERATION.

       Notwithstanding section 4007(a) of the Employee Retirement 
     Income Security Act of 1974 (29 U.S.C. 1307(a)) and section 
     4007.11 of title 29, Code of Federal Regulations, any 
     additional premium determined under subparagraph (E) of 
     section 4006(a)(3) of such Act (29 U.S.C. 1306(a)(3)) the due 
     date for which is (but for this section) after September 15, 
     2032, and before November 1, 2032, shall be due not later 
     than September 15, 2032.

  The SPEAKER pro tempore. The bill, as amended, shall be debatable for 
1 hour equally divided and controlled by the chair and ranking minority 
member of the Committee on Ways and Means or their respective 
designees.
  After 1 hour of debate, it shall be in order to consider the further 
amendment printed in part E of House Report 117-432, if offered by the 
Member designated in the report, which shall be considered read, shall 
be separately debatable for the time specified in the report equally 
divided and controlled by the proponent and an opponent, and shall not 
be subject to a demand for a division of the question.
  The gentleman from Michigan (Mr. Kildee) and the gentlewoman from 
North Carolina (Ms. Foxx) each will control 30 minutes.
  The Chair recognizes the gentleman from Michigan (Mr. Kildee).

                              {time}  1545


                             General Leave

  Mr. KILDEE. Madam Speaker, I ask unanimous consent that all Members 
may have 5 legislative days in which to revise and extend their remarks 
and to insert extraneous material on the bill.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Michigan?

[[Page H7213]]

  There was no objection.
  Mr. KILDEE. Madam Speaker, I yield myself such time as I may consume.
  Madam Speaker, H.R. 6929, the Susan Muffley Act of 2022, will restore 
the hard-earned pensions of more than 20,000 Delphi salaried retirees, 
including 5,000 in my home State of Michigan.
  The Susan Muffley Act is a bipartisan bill supported by Republicans 
and Democrats in both the House and the Senate. I worked most 
particularly with Mr. Ryan of Ohio and Mr. Turner of Ohio on this 
legislation along with the other cosponsors. It is endorsed by the 
AARP, the AFL-CIO, and the UAW. I am glad we can come together finally 
to do what is right for these workers. These are workers who lost their 
pensions through no fault of their own.
  In this country, Madam Speaker, if you work hard and play by the 
rules, you should be able to retire with dignity and with peace of 
mind. Instead, these workers had the rug ripped out from underneath 
them and lost their hard-earned benefits. When General Motors filed for 
bankruptcy during the Great Recession the Federal Government--I repeat, 
the Federal Government--made the unprecedented step to move in and save 
the auto industry. At the direction of the Federal Government, however, 
the U.S. Pension Benefit Guaranty Corporation, the PBGC, assumed 
responsibility for the Delphi salaried retiree pensions. After 
negotiations with the Federal Government, the PBGC cut those hard-
earned benefits by as much as 70 percent for 20,000 Delphi salaried 
retirees.
  These retirees were treated differently than other retirees impacted 
by the GM bankruptcy. They suffered significant cuts to their benefits, 
upending the lives of thousands and thousands of families.
  In September of 2019, the Delphi Salaried Retirees Association filed 
suit against the PBGC to have their pension benefits restored. It went 
all the way to the Supreme Court until the Court declined to hear the 
case, making it clear that only congressional action could restore 
these earned pension benefits.
  Our legislation would make this unique group of retirees who had 
their pensions unfairly and disproportionately cut will make them whole 
again. This means that beneficiaries will receive a payment of the 
difference of what was actually paid to them by the PBGC and what they 
would have earned had they been able to keep their pensions like 
everyone else did. Moving forward, beneficiaries will receive their 
full earned pension.
  This bill is fully paid for and will not add to the deficit.
  Delphi salaried retirees deserve to have their pensions made whole 
because it was the Federal Government that singled these workers out. 
It was the Federal Government who stepped in to rescue General Motors 
but decided to treat these workers differently and cut their earned 
pensions. It was the Federal Government, not General Motors, who 
directly negotiated with the PBGC.
  What happened to these hardworking retirees was wrong, and now it is 
the Federal Government who has the responsibility to fix the mess that 
itself created.
  We need to get this legislation done for people like Susan Muffley 
for whom this bill is named. David Muffley, Susan's husband, worked at 
Delphi as an electronics technician for 31 years but lost the full 
value of his pension in 2009. His wife, Susan Muffley, was a core part 
of the Delphi Salaried Retirees Association's leadership team fighting 
to restore these pensions.
  Because of the financial difficulties of losing their pension, Susan 
avoided seeing her doctor because they couldn't afford it. Sadly, she 
was ultimately diagnosed with pancreatic cancer and passed away.
  After working hard for 30 years to earn a pension to support your 
family through retirement, no worker and no family member should be 
forced to forgo medical treatment to make ends meet. These workers need 
the Susan Muffley Act. The last 13 years have been an absolute 
nightmare for these families. These are people I know.
  During the Obama Administration, the problem was created but never 
addressed. During the Trump administration, the former President talked 
about fixing the issue but never acted. He ran out of time before that 
moment could occur. But now, today, after lots of talk and not so much 
action, Congress can finally act to provide relief and justice for 
these workers, these Delphi salaried retirees.
  Madam Speaker, I urge my colleagues to support this important 
legislation, and I reserve the balance of my time.
  Ms. FOXX. Madam Speaker, I yield myself such time as I may consume.
  Madam Speaker, when it comes to bailouts, Congress just can't seem to 
help itself. Under President Biden, taxpayers have been forced to 
bankroll the so-called American Rescue Plan which included an uncapped 
bailout for failing and insolvent multi-employer pensions.
  From footing the bill for this excessive government spending to 
record-high gas prices, taxpayers can't catch a break in Biden's 
America, and today we are considering another bailout that will force 
taxpayers to cover the tab for failed, privately run pensions.
  What message does this send to the men and women who have their own 
retirement accounts to worry about or have no retirement accounts at 
all?
  More pension bailouts set a damning precedent. In case anyone has 
forgotten, we work for hardworking taxpayers in this country. As 
Members of Congress we have an obligation to ensure that taxpayer 
dollars are being spent as efficiently and effectively as possible. 
Unfortunately, too many ignore this important duty and are happy to 
mortgage the future of the next generation with reckless spending.

  On top of the price tag, there have been no hearings and no markups 
on H.R. 6929.
  Is this the standard the House wants to operate under--one where any 
piece of legislation can be fast-tracked to the floor without due 
consideration and scrutiny?
  Under Democrat control, good governance has long been abandoned in 
the people's House.
  In 2009, when Delphi Corporation completed its 4-year bankruptcy, its 
defined benefit pension plans were terminated and taken over by the 
Pension Benefit Guaranty Corporation, PBGC, a process that has been 
well-established. At that time, the Delphi pension plans were 
collectively underfunded by $7.2 billion. Delphi did not make required 
contributions to its pension plans in the 4 years it was moving through 
bankruptcy. The salaried employee plan, in particular, was only 48 
percent funded with $2.4 billion in assets and liabilities of $5 
billion.
  Fast forward to today, and we are considering a bill that would dole 
out money like candy. Under this bill, participants would receive a 
retroactive lump-sum payment, or ``top-up,'' of the difference between 
what was paid by PBGC and what the plans would have paid had they not 
been terminated.
  But here is the kicker, Madam Speaker: this top-up would come with an 
additional 6 percent interest, and all participants would receive their 
original monthly benefits moving forward.
  Let's turn our attention to the precedent that this bill sets for the 
entire single-employer pension system. Currently, PBGC's single-
employer insurance program is funded exclusively by premiums paid by 
employer plan sponsors and does not--does not--receive taxpayer 
dollars. PBGC is the trustee of over 5,000 terminated single-employer 
plans.
  Madam Speaker, please pay attention to this next part. By topping up 
one plan, Congress will be pressured and expected to top up the 
remaining 5,000 terminated plans and every future terminated plan.
  How many plans does PBGC currently insure?
  More than 23,000 active, single-employer plans are currently insured.
  So, Madam Speaker, what is next on the docket?
  Should Congress roll up its sleeves and make whole every American's 
401(k) plan that took a few hits?
  Again, how about Americans who do not have a pension plan?
  There are many of those. Imagine the harebrained schemes that 
Congress could start pulling out of its hat if given this 
encouragement. We should be protecting taxpayers, not feeding them to 
the wolves.
  This bill is a slap in the face to fiscal responsibility. H.R. 6929's 
cash giveaway will force taxpayers to shoulder a

[[Page H7214]]

cost of $800 million over the next decade and $1.3 billion in all to 
bail out underfunded, privately run pension plans.
  Another bailout of failing pension plans does nothing but stick it to 
hardworking taxpayers. This bill simply underscores the fact that 
Congress is too misguided to focus on real issues.
  Madam Speaker, hardworking taxpayers cannot afford more senseless 
bailouts. Enough is enough.
  Madam Speaker, I reserve the balance of my time.
  Mr. KILDEE. Madam Speaker, I yield myself such time as I may consume.
  Madam Speaker, I appreciate the comments of my colleague. I disagree 
with the conclusions that she makes, and I would only challenge a 
couple of things.
  One is on the issue of precedent. There is no precedent, unless the 
precedent is when the Federal Government intervenes and takes control 
of a company, takes ownership of a company, it buys the problem. It 
then owns the solution. It owns responsibility for the solution.
  So the only precedent that I think this sets is one that I learned a 
long time ago: if you broke it, you bought it. The Federal Government 
intervened and made these decisions disproportionately affecting these 
particular employees.
  The rest of the employees got their pensions topped up, why wouldn't 
this particular set?
  Secondly, I disagree with the reference that this is candy. For these 
taxpayers, these families, this is rent, this is food on the table, it 
is their mortgage payment, it is a car payment, and it is medicine--
medicines that, sadly, Susan Muffley didn't have the ability to get to 
because her pension was cut. This is about justice.
  Madam Speaker, I yield 2 minutes to the gentlewoman from Michigan 
(Mrs. Lawrence), who unfortunately is spending her last months in 
Congress. I wish that weren't the case.
  Mrs. LAWRENCE. Madam Speaker, I rise today in support of the Susan 
Muffley Act. This bill would restore pension benefits to over 20,000 
Delphi salaried retirees, including over 5,000 Michiganders.

  When GM filed for bankruptcy during the Great Recession, these 
families lost up to 70 percent of their earned benefits. They need and 
deserve the attention and action of this body.
  This bill is named after Susan Muffley, whose husband worked at 
Delphi for 31 years and could not seek medical treatment when their 
family lost the pension.
  Mrs. Muffley spent years fighting to have all these pensions 
restored.
  Let me be absolutely clear: Michiganders and all Americans who have 
worked hard their entire lives to support their families deserve the 
right to retire with dignity and financial security. This is simply the 
right thing to do.
  Madam Speaker, I thank my colleague, Congressman Kildee, for 
introducing this bipartisan bill, and I urge my colleagues to vote 
``yes.'' In America we are better than this, and we need to pass this 
bill.
  Ms. FOXX. Madam Speaker, I yield 3 minutes to the distinguished 
gentleman from Pennsylvania (Mr. Keller).
  Mr. KELLER. Madam Speaker, I thank the ranking member, Dr. Foxx, of 
North Carolina for yielding.
  Unlike the multi-employer pension program, which was recently 
injected with billions of taxpayer dollars, the single-employer 
insurance program is self-sufficient. It is funded by premiums paid by 
employer sponsors to the Pension Benefit Guaranty Corporation. By most 
accounts, PBGC's single-employer insurance system is healthy and not in 
need of bailouts. Yet a bailout is exactly what H.R. 6929 is. You 
cannot give public money out to one person without first taking it from 
another.
  This bill does not help Pennsylvanians without a pension plan or with 
losses in their personal retirement accounts. On the contrary, this 
bill is an irresponsible giveaway that sets a dangerous precedent for 
the Federal Government's involvement in pension plans going forward.

                              {time}  1600

  The Congressional Budget Office estimates that this bailout will cost 
taxpayers nearly $800 million over 10 years; not including the lifetime 
cost of the bill, which could reach $1.3 billion. I wonder how the 
people that have to pay that in the next generation are going to pay 
their rent, afford their college, and afford their groceries.
  Congressional Democrats and the Biden administration have already 
spent tens of billions on insolvent and failing multi-employer plans, 
without holding trustees accountable for failing workers or retirees, 
or meaningfully reforming the pension system to prevent future 
insolvency.
  Once again, the Federal Government is offering a pension bailout.
  Hardworking taxpayers who have their own retirements to worry about 
cannot continue to shoulder this burden. We cannot set this kind of 
precedent for a single-employer system. If Congress gives special 
treatment to this plan covered by today's bill, the other 5,000 single-
employer plans also managed by PBGC will pressure Congress to do the 
same for all.
  Is Congress then expected to top up or provide a lump sum to every 
future terminated plan? These are serious implications that cannot be 
ignored.
  The vast majority of participants in terminated plans receive their 
full benefits. The Delphi plans are no exception. Nearly three-fourths 
of participants were not subject to the PBGC's statutory guarantee 
limits.
  This body must remember it works for the taxpayers, not political 
interest groups. Americans don't work hard each and every day to fund 
irresponsible pet projects. We need more fiscal sanity, not more 
pension bailouts.
  On top of all these issues, the manager's amendment is simply a 
budget gimmick to make the bill appear to cost nothing.
  In reality, it accelerates the time period in which single-employer 
plans are required to pay their variable rate premiums to the PBGC to 
fit within the budget window, and it adds nothing to the PBGC's bottom 
line.
  The SPEAKER pro tempore. The time of the gentleman has expired.
  Ms. FOXX. Madam Speaker, I yield an additional 30 seconds to the 
gentleman from Pennsylvania.
  Mr. KELLER. PBGC is going to receive the same amount of money with or 
without the manager's amendment.
  I encourage my colleagues to oppose this legislation and the 
dangerous, fiscally irresponsible precedent it sets.
  Mr. KILDEE. Madam Speaker, I yield 2 minutes to the gentleman from 
New York (Mr. Higgins), my colleague on the Ways and Means Committee.
  Mr. HIGGINS of New York. I rise today in support of H.R. 6929, the 
Susan Muffley Act.
  Madam Speaker, this House has been one of the strongest advocates for 
workers and worker families in recent history.
  We passed legislation to increase the minimum wage; to support the 
right to organize; to decrease the cost of drugs and health insurance. 
And we protected and restored pensions. But as this bill shows, our 
work is not complete.
  My community in Buffalo and Western New York has a long history of 
auto-making. When the recession hit in 2009, families across my 
district saw their pensions evaporate.
  And while we stabilized the auto sector, and the loans have been 
repaid, thousands of former auto company employees have been left 
behind, including hundreds of Delphi workers in Lockport who, due to no 
fault of their own, had their pensions arbitrarily cut.
  This legislation will fix that longstanding error and will provide 
certainty so that these families can retire with the benefits they 
earned.
  I thank Mr. Kildee from Michigan, Mr. Ryan and Mr. Turner from Ohio, 
for being champions of this bill, and I urge my colleagues to support 
its passage.
  Ms. FOXX. Madam Speaker, I yield 4 minutes to the gentleman from 
Virginia (Mr. Good).
  Mr. GOOD of Virginia. Madam Speaker, I rise today in strong 
opposition to H.R. 6929, another Democrat bailout bill by the sponsors 
of the nanny state.
  It is clear that ``Bidenflation'' is crushing the American people 
with the Biden price hike that is causing sky-high gas prices, and 
Americans are struggling to stay afloat as the economy limps toward 
recession.
  Not surprisingly though, Democrats are trying to redefine the term 
``recession'' to avoid recognizing the failures of their damaging 
policies.

[[Page H7215]]

  Let me help them out by quoting, paraphrasing from the former 
President Ronald Reagan: A recession is when your neighbor loses his 
job. A depression is when you lose your job. But a recovery is when 
Democrat Members of Congress lose their jobs.
  This legislation would make hardworking middle-class taxpayers 
reimburse pension plan participants who were employed by the now-
defunct Delphi Corporation and add 6 percent interest. The Democrats 
insist that this is just an attempt to rightfully recover losses 
suffered by these former employees.
  But early in my own career, I actually experienced this kind of 
unfortunate situation firsthand. In fact, my first employer after 
college ended their cash balance pension plan just a couple of years 
after I started with the company. But it never occurred to me that 
other hardworking taxpayers should have to pay me for the benefits and 
earnings that I missed out on.
  My next employer sold my division to a competitor, and then the 
former parent company went under, and the value of their stock that 
made up a significant portion of my retirement account went to zero. 
But, again, it never occurred to me that other, hardworking taxpayers 
should have to pay me to restore my lost investment value.
  In both cases, recognizing the risks and rewards associated with our 
nonsocialist, free enterprise economic system, I just kept working 
hard, saving money for retirement, with no help from Congress or 
confiscation of resources from other hardworking taxpayers.

  To my benevolent colleagues on the other side, I have one question 
for you: Where does this end? And we know where it ends, with these 
policies carried to its logical conclusion, with the physical ruin of 
America.
  But I should say benevolent with other people's money and with our 
children's financial and economic future.
  Should Congress reimburse every American's investment retirement plan 
when it suffers a loss?
  What if all Americans seek repayment for their losses in this failed 
Biden economy, because it does affect everyone.
  But hardworking Americans have had enough. Why should the 
constituents of my Virginia Fifth District pay for someone else's 
retirement plan?
  Enough with the stimulus checks; enough with the bailouts; enough 
with paying people not to work; enough with growing the welfare state; 
enough with incentivizing and rewarding the wrong behavior, while 
punishing those who do the right thing.
  Let's get back to the Trump policies, 1 percent inflation, $2 gas 
prices, and put Americans back to work. I urge all of my colleagues to 
vote against this Democrat bailout bill.
  Mr. KILDEE. Madam Speaker, I yield myself such time as I may consume.
  I appreciated the gentleman's comments. I will point out, since the 
gentleman did refer to the former President, Mr. Trump, that Mr. Trump 
saw this as an injustice and directed his administration to address it 
as well.
  And I also think there is enough partisanship in Washington, more 
than enough, so let's not make something that is bipartisan just for 
the point of rhetorical value into something that is claimed to be 
partisan.
  This is not a partisan piece of legislation. I see Mr. Turner on the 
other side of the aisle. We have worked together on this for years; 17 
of the 37 cosponsors of this legislation are Republicans, including 
Members with whom I don't think I have ever shared sponsorship. I don't 
recall, for example, being a cosponsor of any piece of legislation with 
Mr. Mo Brooks. We are on this one.
  This is not a partisan bill, so let's not call it that. You can 
disagree with it. You can vote against people getting their hard-earned 
pensions, but let's not make it into something that it isn't.
  Madam Speaker, I yield 2 minutes to the gentlewoman from Michigan 
(Mrs. Dingell), a friend that I have known for a very long time, a 
member of the Energy and Commerce Committee.
  Mrs. DINGELL. Madam Speaker, I rise today in strong support of H.R. 
6929, the Susan Muffley Act of 2022.
  Every worker deserves a secure and dignified retirement. That 
shouldn't be negotiable, especially when they were promised a pension 
as part of their income and put into it.
  This legislation restores the pension benefits of Delphi salaried 
retirees that were impacted by the Great Recession, some of whom saw 
their pensions cut by as much as 70 percent as a result of the Pension 
Benefit Guaranty Corporation's termination of their benefits unfairly.
  My State of Michigan was particularly impacted, as I know the State 
of Ohio was--it was a good midwest company--by the termination of these 
plans, with thousands of retirees losing pension benefits they earned, 
they were promised. They deserve the full value of what they earned and 
were promised.
  These retirees have been fighting for over a decade to receive these 
benefits, and it is time to make them whole.
  I strongly urge all of my colleagues to support this important 
bipartisan bill.
  I thank my colleague for his leadership. When we are home, we listen 
to these people who are just in total tears. They don't know what to 
do. And my colleague has never stopped leading the charge for them.
  Ms. FOXX. Madam Speaker, I yield 3 minutes to the gentleman from Ohio 
(Mr. Turner).
  Mr. TURNER. Madam Speaker, I thank Ranking Member Foxx for yielding 
me time.
  I am an original cosponsor of this bill, H.R. 6929. This legislation 
restores the pensions of the Delphi Salaried Retirees.
  I am very proud to speak on behalf of this bipartisan bill. During 
the Obama administration's 2009 taxpayer-funded General Motors 
bankruptcy bailout, President Obama's Auto Task Force directed the 
Pension Benefit Guaranty Corporation to terminate the fully funded 
pensions of more than 20,000 Delphi Automotive salaried retirees.
  Even worse is that the pensions of the salaried retirees were 
terminated while the Obama Auto Task Force used the taxpayer-funded 
bankruptcy to top up the pensions of the Delphi union employees. The 
Obama administration choose winners and losers, with taxpayers' 
dollars.

  A 2013 report published by the Special Inspector General for TARP 
said: ``Treasury did not view the non-UAW Delphi hourly employees or 
the Delphi salaried employees as having leverage because they could not 
hold up GM's bankruptcy.''
  These pensions did not fail. These pensioners were robbed of their 
pensions by the people who were supposed to protect them.
  For over 13 years now, I have worked with my colleagues to try to 
restore these pensions. President Trump issued a Presidential 
directive, a memorandum directing the PBGC to provide options for 
restoring through the agency calling ``the plight of Delphi's salaried 
and non-unionized workforce a great concern to my administration.''
  President Biden also supports this legislation. Now, Congress must 
restore these pensions. There is no precedent for this bill. No one 
else has had the White House pick winners and losers and take away 
their pensions.
  It is our responsibility, as Members of Congress, to address this 
injustice. We finally have the chance to rectify this wrong. Stand up 
for the 20,000 hardworking Americans who want what is rightfully 
theirs. I ask my colleagues to support this legislation.
  Mr. KILDEE. Madam Speaker, I yield 2 minutes to the gentleman from 
Ohio (Mr. Ryan), a gentleman that I have been working with on this 
issue for as long as I have been in Congress.
  Mr. RYAN. Madam Speaker, 13 years; 13 years. I have been in Congress 
now for a little while, and I cannot begin to tell you what an example 
that the Delphi salaried retirees have set. It is the absolute gold 
standard for activism and lobbying their government.
  And I, you know, normally get up here and get pretty upset; but I 
have got to kind of laugh because when I hear our friends on the other 
side talk about irresponsibility and gimmicks and nanny states and 
socialists, I think of all my friends in the Delphi salaried 
retirement.
  These are the most hardworking citizens that I have in my district. 
And they show up for work. They coach the baseball teams. They work at 
the church. They are veterans. They give back. They are great parents. 
They are

[[Page H7216]]

great-grandparents. They are involved in the community.

                              {time}  1615

  Our job here is pretty simple. We look at the field, see what is 
happening in the country, and if some person or group of people are 
being wronged unfairly, it is our job to fix it. It is not a Democrat 
thing. It is not a Republican thing. It is not a left-right thing, not 
a free market thing, or a socialist thing.
  It is about people. It is about American citizens who did everything 
right. They showed up one day in the middle of a bankruptcy that, as 
Mr. Kildee has articulated here, the government was organizing, and 
reorganizing, the American auto industry. This isn't some private-
sector bankruptcy. The government was in there manipulating everything, 
and they screwed up.
  There was no one screaming louder than I was at the Obama 
administration, Sherrod Brown and I, in meetings with Tim Geithner and 
all the rest over the last 13 years.
  The SPEAKER pro tempore (Mrs. Dingell). The time of the gentleman has 
expired.
  Mr. KILDEE. Madam Speaker, I yield an additional 2 minutes to the 
gentleman from Ohio.
  Mr. RYAN. I thank Congressman Kildee from the Ways and Means 
Committee, Chairman of the Ways and Means Committee Richie Neal, 
Sherrod Brown, Rob Portman,  Mike Turner. The Members of Congress and 
Senators who are on the ground with these families came together and 
have been fighting.
  Here we are, 13 years later, where we are going to vote this out of 
the House, and we are going to send it to the Senate. We are going to 
try to help people because that is our job.
  What I really appreciate about this is that during the rescue 
package, we were able to save hundreds and hundreds of thousands of 
pensions for people, about 100,000 in Ohio, because there was a 
problem, and we tried to fix it. That happened to be unions.
  This group happens to not be union, but they deserve help all the 
same. That is what we are doing here. I was proud that the Auto Workers 
and the AFL-CIO are helping to support this.
  We need more of this. I think this is an example of how to try to 
influence your government, try to get help, try to right a wrong, and 
not talk about Democrat and Republican and red and blue and all that 
nonsense that we are all sick of.
  We are ready to move forward. If you need help, if you have been 
wronged, we are going to stand up and fight for you.
  Again, I thank Mr. Kildee for his leadership here. We are going to 
send this over to the Senate.
  I know there are a lot of people, again, living and working and 
talking to these families over the last 13 years. How many people have 
passed away? How many families have been harmed? How many other people 
have not gotten the healthcare that they needed because they couldn't 
afford it, or they had situations in their family, and they didn't have 
enough money, maybe, to help their kids or help their grandkids?
  This is the right thing to do. This is the absolute right thing to 
do. I am glad it is bipartisan, and I am glad we finally got it done 
after 13 years.
  Ms. FOXX. Madam Speaker, my colleagues say we are here to help 
people. Our first job is like the doctor's oath: First, do no harm. 
This bill does harm.
  Madam Speaker, I yield 3 minutes to the gentleman from Ohio (Mr. 
Davidson).
  Mr. DAVIDSON. Madam Speaker, I appreciate my colleague, Congresswoman 
Foxx, for yielding. We disagree from time to time, and this is one of 
those.
  I do agree that it shouldn't be seen as a partisan issue. The 
Democrats may see this as precedent-setting in a way that Republicans 
who support it don't. The precedent here isn't that every victim of 
fraud, and there are many when it comes to pensions, is going to 
somehow be made whole. Otherwise, you would create an incentive for 
people to commit fraud. One person takes the fall, and everyone else 
gets bailed out. That is not what this is.
  When I listen to my colleague, Congressman  Bob Good from Virginia, I 
might feel the same way if I didn't understand the facts of this 
situation. What this really amounts to is pension holders who were 
effectively the victims of civil asset forfeiture, which is an unjust 
and, in my opinion, unconstitutional practice that, sadly, is still 
tolerated.
  This wasn't an underfunded pension. They weren't victims of fraud. 
Their pension was funded, and the government seized the assets. They 
seized what they said was the property of Delphi, a company in 
bankruptcy, but the reality is this is property of the pension holders. 
This is their retirement savings that was seized 13 years ago.
  Thankfully, when Vice President Joe Biden said there is nothing we 
can do, in the intervening years, we found a way. I want to say thanks 
to Congressman Kildee from Michigan. I want to say thanks to my 
colleague,  Mike Turner.
  I was on Air Force One with him as we were flying from Andrews Air 
Force base to Dayton, Ohio. Congressman Turner took the lead, shared 
the message. We continued to work with President Trump at the time. He 
got it. He took action, and I think that this is one of the things 
where we have seen continuity.
  I wish it would become a trend and that President Biden would carry 
many more policies with continuation. I think we would see great 
results because we are going to see great results out of this.
  It sets the right precedent. I hope the precedent it sets is this 
government stops civil asset forfeiture altogether. It was unjust to do 
that to these pension holders, and I am glad that justice is finally 
going to come as a result of this bill.
  Madam Speaker, I encourage all of my colleagues, even those who 
thought they were opposed to it, once you understand what is really 
going on here, to get on board and support this just bill.
  Mr. KILDEE. Madam Speaker, I yield 2 minutes to the gentlewoman from 
Ohio (Ms. Kaptur), the longest-serving woman in the history of the 
United States Congress.
  Ms. KAPTUR. Madam Speaker, I thank Chairman Kildee for yielding time.
  Madam Speaker, a miracle is happening here. Michigan Wolverines and 
Ohio Buckeyes, on a bipartisan basis, are agreeing. Wow. Everybody 
should vote for this act, for America's sake.
  I am so proud to help celebrate the passage day of the Susan Muffley 
Act that will restore retirement benefits for thousands of Delphi 
retirees. Hard work should be rewarded.
  The men and women who built up Delphi were made a promise in return 
for their years of hard work, and they were promised a stable and 
secure retirement during their golden years.
  Over the years, the American worker has time and again seen promises 
broken, and they have seen the financial security they earned and is 
rightfully theirs thrown away. Now, the Susan Muffley Act makes good on 
Delphi's original promise.
  Workers in Defiance, Ohio, and Sandusky, Ohio, and throughout 
Michigan and the Midwest will see, by restoring their benefits, the 
retirees who worked hard and built America will have the future they 
paid for and earned.
  We know that the Susan Muffley Act is a giant step forward in 
justice, justice for Americans who worked hard and were cast aside 
until now.
  I thank Congressman Kildee for his absolutely tireless and relentless 
efforts to bring this to the floor. To get anything out of the Ways and 
Means Committee is a miracle anyway.
  For Ohio, this means 5,000 families--believe me, many who can't 
afford their medicine, many who worry about tomorrow--will be 
celebrating. There will be a sense of being made whole again because of 
what they gave to this country, what they gave to their employers, and 
that bargain should be kept.
  Madam Speaker, I congratulate Congressman Kildee. The Wolverine State 
has sent a highly capable American to Congress. I thank Congressman 
Turner of the great Buckeye State of Ohio, from the Dayton region, for 
this great partnership to help thousands and thousands of America's 
retirees.
  Ms. FOXX. Madam Speaker, may I inquire as to how much time is 
remaining.
  The SPEAKER pro tempore. The gentlewoman from North Carolina has 13

[[Page H7217]]

minutes remaining. The gentleman from Michigan has 12\1/2\ minutes 
remaining.
  Ms. FOXX. Madam Speaker, proponents of H.R. 6929 continue to cite the 
statistics that the salaried employee pension plan was 86 percent 
funded in 2009 and, therefore, should not have been terminated. This is 
misleading and simply not the case.
  When the salaried employee plan was terminated in 2009, it was 
roughly 50 percent funded with $2.4 billion in assets and $5 billion in 
liabilities. Delphi had not made required contributions to the plan in 
the previous 4 years.
  Further, Delphi was moving through bankruptcy proceedings, and the 
company stated publicly it was unable to fund its pension plans before 
reaching an agreement with PBGC to terminate the plans.
  Delphi had not made required contributions to the pension plans in 
the 4 years it was in bankruptcy proceedings. Delphi was liquidating 
assets in bankruptcy, and the plan had only enough assets to pay for 
half of its benefit obligations.
  Finally, if the Delphi salaried employee plan was truly as well 
funded as proponents suggest, then why did it not have enough assets to 
cover the benefits owed to workers and retirees?
  Madam Speaker, this is a big problem for the taxpayers of this 
country when we start bailing out pension plans in this way. We have a 
process through the PBGC, and that process should be followed.
  Madam Speaker, it is important, really important, to make sure the 
Record is accurate. Most Delphi salaried pension plan participants who 
are being discussed today either received no cuts in their pensions or 
saw cuts of less than 10 percent.
  PBGC typically becomes a trustee of a single-employer plan when the 
employer that sponsors the plan declares bankruptcy and the plan has 
insufficient assets from which to pay all promised benefits. When PBGC 
becomes a trustee of a single-employer pension plan, plan participants 
receive their full benefits up to a statutory maximum benefit, a 
benefit set by Congress.
  The maximum guarantee in 2009, the year of Delphi's bankruptcy, was 
$4,500 per month or $54,000 per year for retirees who began receiving 
benefits at age 65. That is a very high amount of money that many 
Americans will never earn per year, let alone have for retirement.
  PBGC reported in 2019 that 84 percent of retirees who receive 
benefits from PBGC are paid the full benefit amounts they earned under 
their retirement plans, meaning they do not have their benefits 
reduced.
  In the case of the Delphi salaried employee plan, 72 percent of 
participants were not affected by PBGC's statutory benefit limit. Of 
the remaining 28 percent, 36 percent saw less than a 10 percent 
reduction.
  Madam Speaker, again, I am speaking for the Americans who will never 
get a pension benefit because they have worked so hard but never made 
enough money to have a pension or don't have employers that pay pension 
benefits. We are bailing out people who are making a lot of money.
  Madam Speaker, wages aren't keeping up with inflation. A Washington 
Post economic columnist recently pointed out that workers are 
experiencing the biggest decline in years in inflation-adjusted pay. 
According to a new report, 75 percent of middle-income families say 
their ``income is falling behind the cost of living.''
  Given persistent and rising inflation, H.R. 6929 is the last thing we 
should be considering. It will cost taxpayers nearly $800 million over 
10 years and $1.3 billion in all to bail out Delphi's underfunded, 
privately run pension plan.
  Americans across the country do not want to fork over their hard-
earned dollars to fund a costly project that was cooked up in Congress, 
especially when many have their own retirement accounts to consider or 
have none at all.
  By doubling down on an already failed strategy, taxpayers will be 
forced to cover the cost of this cash giveaway. This sets a terrible 
and troubling precedent that will embolden the Federal Government to 
bail out thousands of other privately run pensions.
  Madam Speaker, I encourage my colleagues to oppose this fiscally 
irresponsible catastrophe of a bill, and I yield back the balance of my 
time.

                              {time}  1630

  Mr. KILDEE. Madam Speaker, I yield myself such time as I may consume 
to close.
  I do believe, and I agree with my colleague, that the facts ought to 
be correct and that the Record ought to be clear. That is why I want to 
clarify a couple of things.
  Number one, I continue to hear opponents of this legislation depict 
it as a Democratic bill, a partisan bill. That is just not true. It is 
amazing to me in this body that we can still have people say things 
that just are patently untrue. That is not true.
  Just look at the list of Republican cosponsors of this legislation. 
If you don't want to look at that list, don't look at that list. Just 
look back a couple of years when then-Republican President Donald Trump 
saw this as an injustice and directed his administration to solve this 
problem.
  This is not a partisan piece of legislation. I understand the game; I 
get it. Everything around here somehow has to be turned into Democrats 
versus Republicans.
  I am going to tell you something about the Delphi salaried retirees. 
Some are Democrats. Some are Republicans. Some are Independents. They 
live in every part of this country. They are people who worked really 
hard and did nothing wrong and lost everything that they had worked for 
in some cases.
  Two, the other fact that I want to correct, it is true that only the 
losses that these pension recipients received, the losses that they 
experienced would be made up for. So when my colleague points out the 
fact that some did not receive a 70 percent cut, that is true. People 
will only receive what was promised to them. That is kind of an 
American ideal, isn't it? We keep our promises.
  As to the point that this is a private pension that was mismanaged 
and failed and the government shouldn't become involved, that ship 
sailed a long time ago when the government got involved. The government 
took control of the company, took control of its assets, made these 
decisions.
  So if there is a precedent to be set, the precedent is this: The 
Federal Government makes a mistake, the Federal Government has the 
obligation to fix it. I don't know what is wrong with that. I don't 
know what is wrong with that. I mean, that is the way I was raised.
  I don't know who is watching today. I don't know how many Americans 
are watching, but I hope they are paying attention. I know a lot of 
those Delphi salaried retirees are watching. Despite some of what you 
heard today--because this place becomes very political, unfortunately--
despite some of what you heard, what you saw and what you are about to 
see in a little while, we are Democrats and Republicans who disagree on 
a lot of things and we are coming together to fix a problem that has 
lasted for 13 years, a problem that occurred on the watch of a 
Democratic President, a problem that a Republican President was 
attempting to address, but who didn't get it done, and now in this 
moment Members of Congress--with whom I have very little in common--
share one thing for sure, we represent many of the same people, people 
who have suffered an injustice and are looking to the Congress of the 
United States as the last chance they have to have that mistake made 
right.
  That is a precedent I don't mind seeing us set. If the Federal 
Government makes a mistake, we fix it. That is what we are about to do 
here today.
  Madam Speaker, I yield back the balance of my time.
  Ms. JACKSON LEE. Madam Speaker, I rise in strong support of H.R. 
6929, the ``Susan Muffley Act of 2022.''
  H.R. 6929 is a bipartisan, bicameral effort to restore the retirement 
benefits for over 20,000 Delphi salaried retirees.
  This legislation will lay out a formal procedure to pay the 
difference between the pension benefits earned by Delphi salaried 
retirees and what they received following the General Motors (GM) 
bankruptcy in 2009.
  Moreover, it will ensure that beneficiaries who have already begun 
receiving benefits will receive a separate payment of the difference 
between what was actually paid by the U.S. Pension Benefit Guarantee 
Corporation

[[Page H7218]]

(PBGC) and what would have been paid without the limitations plus 
interest.
  Under H.R. 6929, retirees from this auto parts manufacturing company 
will be eligible for increased benefits in connection with the 
following pension plans:
  The Delphi Hourly-Rate Employees Pension Plan.
  The Delphi Retirement Program for Salaried Employees.
  The PHI Non-Bargaining Retirement Plan.
  The ASEC Manufacturing Retirement Program.
  The PHI Bargaining Retirement Plan.
  The Delphi Mechatronic Systems Retirement Program.
  During the Great Recession of 2009, several major auto manufactuers 
including GM filed for bankruptcy.
  As a result, the PBGC recklessly cut retirement benefits by as much 
as 70 percent for more than 20,000 Delphi salaried retirees, including 
over 500 retirees in Texas.
  This is unacceptable. Social Security, pensions, and personal savings 
have long ensured that workers could retire with dignity.
  Now, majority of these retirees are struggling to stay afloat 
especially those with climbing medical bills.
  Therefore, I applaud the efforts of my colleagues in both the House 
and Senate for bringing this issue into greater focus.
  Those who have worked hard their entire lives and played by the rules 
deserve the benefits they earned.
  That is why I am proud to support this legislation that will restore 
the benefits that hundreds of Texans were promised.
  This legislation will relieve the suffering of thousands of salaried 
and hourly workers who were left behind after GM's filing for 
bankruptcy.
  Madam Speaker, I urge my colleagues to join me in supporting H.R. 
6929 to finally correct the mistreatment of these union members and 
allow them to live out the rest of days with dignity.
  The SPEAKER pro tempore. All time for debate on the bill has expired.


            Amendment No. 1 Offered by Mr. Scott of Virginia

  The SPEAKER pro tempore. It is now in order to consider amendment No. 
1 printed in part E of House Report 117-432.
  Mr. SCOTT of Virginia. Madam Speaker, I have an amendment at the desk 
made in order under the rule.
  The SPEAKER pro tempore. The Clerk will designate the amendment.
  The text of the amendment is as follows:

       Add at the end of the bill the following:

     SEC. 3. PENSION BENEFIT GUARANTY CORPORATION REPORT.

       (a) Request for Information.--Not later than 1 year after 
     the date of enactment of this Act, the Director of the 
     Pension Benefit Guaranty Corporation shall issue a request 
     for information to the public regarding ways to ensure the 
     long-term solvency of the Pension Benefit Guaranty 
     Corporation's insurance programs.
       (b) Report to Congress.--Not later than 2 years after the 
     date of enactment of this Act, the Director of the Pension 
     Benefit Guaranty Corporation shall, taking into consideration 
     the information received in the request for information 
     described in subsection (a), submit a report, which shall 
     include recommendations on how to ensure the long-term 
     solvency of the Pension Benefit Guaranty Corporation's 
     insurance programs, to the Committee on Education and Labor 
     and the Committee on Ways and Means of the House of 
     Representatives and the Committee on Health, Education, 
     Labor, and Pensions and the Committee on Finance of the 
     Senate.

  The SPEAKER pro tempore. Pursuant to House Resolution 1254, the 
gentleman from Virginia (Mr. Scott) and a Member opposed each will 
control 5 minutes.
  The Chair recognizes the gentleman from Virginia.
  Mr. SCOTT of Virginia. Madam Speaker, I yield myself such time as I 
may consume.
  Madam Speaker, this amendment is simple and straightforward. It 
requires the Director of the Pension Benefit Guaranty Corporation 
within 1 year after the date of enactment to issue a public request for 
information regarding ways to ensure the long-term solvency of the 
PBGC's insurance programs, and then within 2 years after the date of 
enactment, the Director shall issue a report to congressional 
committees with recommendations on how to ensure the long-term solvency 
of the insurance programs.
  As my colleagues know, the PBGC administers two insurance programs, 
one for multiemployer pensions and the other for single-employer 
pensions. PBGC's multiemployer program has been on the brink of 
insolvency. It was projected to run out of money in just a few years, 
but thanks to the Biden administration and congressional Democrats 
stepping up and passing the American Rescue Plan last year, millions of 
Americans' pensions have been saved.
  Because the law requires participating businesses to pay into those 
failing plans until the businesses go broke, tens of thousands of 
businesses have been saved, and the solvency of the PBGC's 
multiemployer program has been extended for at least 30 more years.
  For the single-employer program, the PBGC's most recent annual report 
indicates that it is financially healthy, with a positive net position 
of over $30 billion at the end of fiscal year 2021 compared to just 
over $15 billion at the end of fiscal year 2020. So, fortunately, it is 
not at the near-term risk of becoming insolvent.
  A few years ago, I had the honor of being one of the four House 
Democrats selected for a special committee charged with addressing the 
multiemployer pension crisis. We tried to address the immediate crisis 
facing multiemployer pension plans with their participants and 
employers while also considering other long-term reforms to pension 
programs, but unfortunately we could not reach any agreement before the 
clock ran out.
  Now that congressional Democrats and the Biden administration have 
solved the immediate crisis, and it looks like we can solve this 
crisis, we should take action to ensure that this doesn't happen again. 
We will do this by getting policy recommendations from the PBGC on how 
we can ensure long-term solvency of both insurance programs and avoid 
the possibility that 20 years from now pension plans would again be on 
the brink of insolvency.
  I urge my colleagues to support the amendment, and I reserve the 
balance of my time.
  Ms. FOXX. Madam Speaker, I rise in opposition to the amendment.
  The SPEAKER pro tempore. The gentlewoman is recognized for 5 minutes.
  Ms. FOXX. Madam Speaker, I yield myself such time as I may consume.
  The first thing I will say, I never said that the bill was a partisan 
bill, and I would like to clarify the record on that point.
  This amendment directs the Pension Benefit Guaranty Corporation to 
issue a public request for information regarding the long-term solvency 
of the agency's single- and multiemployer insurance programs, and to 
submit legislative recommendations to Congress within 2 years.
  I don't question the sincerity with which my colleague from Virginia 
offers this amendment. However, if H.R. 6929 is signed into law, this 
report will be a day late and a dollar short.
  Last year, under the guise of COVID relief, congressional Democrats 
and President Biden enacted an uncapped taxpayer-funded bailout of 
failing and insolvent multiemployer pension plans. While the most 
recent estimate of the bailout indicates taxpayers are on the hook for 
$90 billion, without a cap on the total amount of spending, the bailout 
could cost much more.
  Worse yet, Democrats refused to address the structural failures of 
the system, refused to hold plan trustees accountable, and encouraged 
further plan underfunding.
  The Education and Labor Committee has been wrestling with the 
problems facing the multiemployer pension system and the looming 
insolvency of PBGC's insurance program for decades. The committee has 
held countless hearings on the topic. Congress even established a Joint 
Select Committee on Solvency of Multiemployer Pension Plans, of which 
Chairman Scott and I were members.
  We already know the problems with the system, and we don't need to 
wait another 2 years for PBGC to issue a report with recommendations. 
Plans do not adequately fund their promises. A comment was made about 
keeping promises. Well, we need to fund the plans. They overpromise, 
undercontribute, and refuse to make responsible adjustments, 
ultimately, digging themselves into deeper holes.
  Further, PBGC has submitted legislative recommendations regarding 
multiemployer pensions that Democrats have routinely ignored. For 
years, under both the Obama and Trump administrations, PBGC recommended

[[Page H7219]]

Congress establish a variable rate premium for multiemployer plans to 
align premiums better with the risk these plans pose to PBGC.
  Single-employer plans pay a much higher flat rate premium as well as 
a variable-rate premium. Multiemployer plans should do the same. 
Single-employer plans are also subject to much stricter funding 
requirements that better protect the benefits of workers and retirees.
  Meanwhile, poorly managed multiemployer plans fail to collect 
adequate contributions for the benefits they promise and bet on risky 
investments in hopes of making up the difference.
  While I appreciate the amendment's implicit admission that throwing 
billions of dollars at multiemployer plans has not solved the problem, 
this fig leaf amendment does nothing to address the fundamental flaws 
of the underlying bill.
  Madam Speaker, I urge my colleagues to oppose the amendment, and I 
reserve the balance of my time.
  Mr. SCOTT of Virginia. Madam Speaker, I yield myself such time as I 
may consume to close.
  Madam Speaker, the distinguished ranking member pointed out that the 
saving of the multiemployer pension fund would cost about $90 billion. 
That is right.
  What she omitted was that estimates of doing nothing with the people 
losing their pension, they would pay less in income taxes, they would 
use more social services, and the Federal Government was on the hook 
for $170 billion if we had done nothing. In other words, we would have 
to spend $80 billion more to help the people who lost their pensions 
and the businesses that went broke trying to save those pension plans.
  But in any case, Madam Speaker, the time to fix the roof is when the 
Sun is shining. We have gotten past the crisis. Let's find out what we 
need to do to avoid the possibility that these pension funds might be 
back here 20 years from now in a state of failure.
  We need to make sure we fix it. Let's get these recommendations. That 
is why this amendment is so important that it will guarantee getting 
the information so we can fix these plans once and for all.
  Madam Speaker, I yield back the balance of my time.
  Ms. FOXX. Madam Speaker, I yield myself such time as I may consume to 
close.
  Madam Speaker, again, I don't think we need another study. We don't 
need to delay action on this 2 years. What we need to do is increase 
premiums and impose stronger funding requirements.
  The plans are underfunded. It doesn't take an accountant or a rocket 
scientist to figure that out. Pogo said, ``We have met the enemy, and 
he is us.'' We, in Congress, are the problem. We need to do this.
  Madam Speaker, I yield back the balance of my time.

                              {time}  1645

  The SPEAKER pro tempore. Pursuant to the rule, the previous question 
is ordered on the bill and the amendment offered by the gentleman from 
Virginia (Mr. Scott).
  The question is on the amendment by the gentleman from Virginia (Mr. 
Scott).
  The amendment was agreed to.
  The SPEAKER pro tempore. The question is on the engrossment and third 
reading of the bill.
  The bill was ordered to be engrossed and read a third time, and was 
read the third time.
  The SPEAKER pro tempore. The question is on passage of the bill.
  The question was taken; and the Speaker pro tempore announced that 
the ayes appeared to have it.
  Ms. FOXX. Madam Speaker, on that I demand the yeas and nays.
  The yeas and nays were ordered.
  Pursuant to clause 9 of Rule XX, this 15-minute vote on passage of 
the bill will be followed by 5-minute votes on:
  A motion to recommit H.R. 3771;
  Passage of H.R. 3771, if ordered;
  Motion to recommit H.R. 4040;
  Passage of H.R. 4040, if ordered; and,
  The motion to suspend the rules with respect to the following 
measures:
  H.R. 623;
  H.R. 3952;
  H.R. 3962;
  H.R. 4551;
  H.R. 5313;
  H.R. 6933;
  H.R. 7132;
  H.R. 7361;
  H.R. 7569;
  H.R. 7624;
  H.R. 7733; and
  H.R. 7981.
  The vote was taken by electronic device, and there were--yeas 254, 
nays 175, not voting 1, as follows:

                             [Roll No. 396]

                               YEAS--254

     Adams
     Aderholt
     Aguilar
     Allred
     Auchincloss
     Axne
     Baird
     Balderson
     Barragan
     Bass
     Beatty
     Bera
     Bergman
     Beyer
     Bishop (GA)
     Blumenauer
     Blunt Rochester
     Bonamici
     Bourdeaux
     Bowman
     Boyle, Brendan F.
     Brooks
     Brown (MD)
     Brown (OH)
     Brownley
     Bush
     Bustos
     Butterfield
     Carbajal
     Cardenas
     Carey
     Carson
     Carter (LA)
     Cartwright
     Case
     Casten
     Castor (FL)
     Castro (TX)
     Chabot
     Cherfilus-McCormick
     Chu
     Cicilline
     Clark (MA)
     Clarke (NY)
     Cleaver
     Clyburn
     Cohen
     Cole
     Connolly
     Cooper
     Correa
     Costa
     Courtney
     Craig
     Crist
     Crow
     Cuellar
     Davids (KS)
     Davidson
     Davis, Danny K.
     Dean
     DeFazio
     DeGette
     DeLauro
     DelBene
     Demings
     DeSaulnier
     Deutch
     Dingell
     Doggett
     Doyle, Michael F.
     Escobar
     Eshoo
     Espaillat
     Evans
     Fitzpatrick
     Fletcher
     Foster
     Frankel, Lois
     Gallego
     Garamendi
     Garbarino
     Garcia (IL)
     Garcia (TX)
     Gibbs
     Gohmert
     Golden
     Gomez
     Gonzalez (OH)
     Gonzalez, Vicente
     Gottheimer
     Green, Al (TX)
     Grijalva
     Harder (CA)
     Hayes
     Higgins (NY)
     Himes
     Horsford
     Houlahan
     Hoyer
     Huffman
     Huizenga
     Jackson Lee
     Jacobs (CA)
     Jacobs (NY)
     Jayapal
     Jeffries
     Johnson (GA)
     Johnson (OH)
     Johnson (TX)
     Jones
     Joyce (OH)
     Kahele
     Kaptur
     Katko
     Keating
     Kelly (IL)
     Kelly (PA)
     Khanna
     Kildee
     Kilmer
     Kim (NJ)
     Kind
     Kirkpatrick
     Krishnamoorthi
     Kuster
     Lamb
     Langevin
     Larsen (WA)
     Larson (CT)
     Latta
     Lawrence
     Lawson (FL)
     Lee (CA)
     Lee (NV)
     Leger Fernandez
     Levin (CA)
     Levin (MI)
     Lieu
     Lofgren
     Lowenthal
     Luria
     Lynch
     Malinowski
     Maloney, Carolyn B.
     Maloney, Sean
     Manning
     Matsui
     McBath
     McClain
     McCollum
     McEachin
     McGovern
     McNerney
     Meeks
     Meijer
     Meng
     Mfume
     Moolenaar
     Moore (WI)
     Morelle
     Moulton
     Mrvan
     Murphy (FL)
     Nadler
     Napolitano
     Neal
     Neguse
     Newman
     Norcross
     O'Halleran
     Ocasio-Cortez
     Omar
     Pallone
     Panetta
     Pappas
     Pascrell
     Payne
     Pence
     Perlmutter
     Peters
     Phillips
     Pingree
     Pocan
     Porter
     Pressley
     Price (NC)
     Quigley
     Raskin
     Rice (NY)
     Rose
     Ross
     Roybal-Allard
     Ruiz
     Ruppersberger
     Rush
     Ryan
     Sanchez
     Sarbanes
     Scanlon
     Schakowsky
     Schiff
     Schneider
     Schrier
     Scott (VA)
     Scott, Austin
     Scott, David
     Sewell
     Sherman
     Sherrill
     Sires
     Slotkin
     Smith (WA)
     Soto
     Spanberger
     Spartz
     Speier
     Stansbury
     Stanton
     Stauber
     Steil
     Stevens
     Strickland
     Suozzi
     Swalwell
     Takano
     Tenney
     Thompson (CA)
     Thompson (MS)
     Titus
     Tlaib
     Tonko
     Torres (CA)
     Torres (NY)
     Trahan
     Trone
     Turner
     Underwood
     Upton
     Vargas
     Veasey
     Velazquez
     Walberg
     Wasserman Schultz
     Waters
     Watson Coleman
     Webster (FL)
     Welch
     Wenstrup
     Wexton
     Wild
     Williams (GA)
     Wilson (FL)
     Yarmuth

                               NAYS--175

     Allen
     Amodei
     Armstrong
     Arrington
     Babin
     Bacon
     Banks
     Barr
     Bentz
     Bice (OK)
     Biggs
     Bilirakis
     Bishop (NC)
     Boebert
     Bost
     Brady
     Buchanan
     Buck
     Bucshon
     Budd
     Burchett
     Burgess
     Calvert
     Cammack
     Carl
     Carter (GA)
     Carter (TX)
     Cawthorn
     Cheney
     Cline
     Cloud
     Clyde
     Comer
     Conway
     Crawford
     Crenshaw
     Curtis
     Davis, Rodney
     DesJarlais
     Diaz-Balart
     Donalds
     Duncan
     Dunn
     Ellzey
     Emmer
     Estes
     Fallon
     Feenstra
     Ferguson
     Fischbach
     Fitzgerald
     Fleischmann
     Flood
     Flores
     Foxx
     Franklin, C. Scott
     Fulcher
     Gaetz
     Gallagher
     Garcia (CA)
     Gimenez
     Gonzales, Tony
     Good (VA)
     Gooden (TX)
     Gosar
     Granger
     Graves (LA)
     Graves (MO)
     Green (TN)
     Greene (GA)
     Griffith
     Grothman
     Guest
     Guthrie
     Harris
     Harshbarger
     Hern
     Herrell
     Herrera Beutler
     Hice (GA)
     Higgins (LA)
     Hill
     Hinson
     Hollingsworth
     Hudson
     Issa
     Jackson
     Johnson (LA)
     Johnson (SD)
     Jordan
     Joyce (PA)
     Keller
     Kelly (MS)
     Kim (CA)
     Kinzinger
     Kustoff
     LaHood
     LaMalfa
     Lamborn
     LaTurner
     Lesko
     Letlow
     Long
     Loudermilk
     Lucas
     Luetkemeyer
     Mace
     Malliotakis
     Mann
     Massie
     Mast
     McCarthy
     McCaul
     McClintock
     McHenry
     McKinley
     Meuser
     Miller (IL)
     Miller (WV)
     Miller-Meeks
     Mooney
     Moore (AL)
     Moore (UT)
     Mullin
     Murphy (NC)
     Nehls
     Newhouse
     Norman
     Obernolte
     Owens
     Palazzo

[[Page H7220]]


     Palmer
     Perry
     Pfluger
     Posey
     Reschenthaler
     Rice (SC)
     Rodgers (WA)
     Rogers (AL)
     Rogers (KY)
     Rosendale
     Rouzer
     Roy
     Rutherford
     Salazar
     Scalise
     Schrader
     Schweikert
     Sessions
     Simpson
     Smith (MO)
     Smith (NE)
     Smith (NJ)
     Smucker
     Steel
     Stefanik
     Steube
     Stewart
     Taylor
     Thompson (PA)
     Tiffany
     Timmons
     Valadao
     Van Drew
     Van Duyne
     Wagner
     Walorski
     Waltz
     Weber (TX)
     Westerman
     Williams (TX)
     Wilson (SC)
     Wittman
     Womack
     Zeldin

                             NOT VOTING--1

       
       
     Hartzler
       

                              {time}  1730

  Mr. ROUZER and Mrs. KIM of California changed their vote from ``yea'' 
to ``nay.''
  Mrs. HAYES, Messrs. CHABOT, PENCE, and MEIJER changed their vote from 
``nay'' to ``yea.''
  So the bill was passed.
  The result of the vote was announced as above recorded.
  A motion to reconsider was laid on the table.


    MEMBERS RECORDED PURSUANT TO HOUSE RESOLUTION 8, 117TH CONGRESS

     Babin (Jackson)
     Bass (Neguse)
     Blumenauer (Beyer)
     Bourdeaux (Correa)
     Brown (MD) (Trone)
     Bush (Jeffries)
     Carter (TX) (Weber (TX))
     Casten (Neguse)
     Cherfilus-McCormick (Neguse)
     Crist (Wasserman Schultz)
     DeSaulnier (Beyer)
     Evans (Beyer)
     Guthrie (Barr)
     Jones (Beyer)
     Kahele (Correa)
     Kinzinger (Meijer)
     Kirkpatrick (Pallone)
     Meeks (Jeffries)
     Moore (WI) (Beyer)
     Payne (Pallone)
     Ruppersberger (Trone)
     Rush (Bishop (GA))
     Sires (Pallone)
     Stevens (Kuster)
     Stewart (Wenstrup)
     Taylor (Fallon)
     Thompson (CA) Beyer)
     Thompson (MS) (Bishop (GA))
     Thompson (PA) (Keller)
     Vargas (Correa)
     Walorski (Banks)
     Williams (GA) (Neguse)
     Wilson (SC) (Norman)

     

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