[Congressional Record (Bound Edition), Volume 147 (2001), Part 16]
[Extensions of Remarks]
[Page 23315]
[From the U.S. Government Publishing Office, www.gpo.gov]



           U.S. CONGRESS MUST SUPPORT AMERICAN STEEL INDUSTRY

                                 ______
                                 

                        HON. WILLIAM O. LIPINSKI

                              of illinois

                    in the house of representatives

                      Wednesday, November 28, 2001

  Mr. LIPINSKI. Mr. Speaker, since 1998, foreign governments have been 
masterfully propping up their inefficient domestic steel producers. The 
result to the United States has been disastrous. In three years, 26 
domestic steel companies have either been forced into bankruptcy 
proceedings or shut down altogether, amounting to 40 percent of 
America's former steel production capacity. The number of American 
workers who have lost their jobs, due to no fault of their own, stand 
at 28,000 and rising. Currently, foreign steel making corporations 
produce 300 million metric tons per year--nearly double the annual U.S. 
consumption.
  Unfortunately, this problem is nothing new. Ever since the United 
States began to abandon its protective anti-dumping laws, American 
steel and steelworkers have been hung out to dry. In 1980, there were 
547,500 American steelworkers; today there are 211,300.
  This problem hits too close to home for the residents of my 
Congressional district. For example, last week, LTV Corporation 
petitioned a federal bankruptcy judge to close its coke plant at 11600 
S. Burley in Chicago. This closing alone will send 3,500 employees in 
the Chicago area a pink slip just in time for Christmas. Last month, 
Acme metals of Riverdale shut down and resulted in 1,100 unemployed 
steelworkers.
  Perhaps more damaging to my district is the fact that retired 
pensioners risk losing their negotiated benefits and health insurance. 
In 1993, when U.S. Steel closed its Southworks plant on 89th Street in 
Chicago, hundreds of my constituents were forced into early retirement. 
Today, they worry their retirement pensions will not be subject to 
another broken promise. Locally, 4,600 former LTV and Acme employees 
will join their ranks, hoping that their struggling former companies 
will at least be able to pay out health and pension annuities.
  I would like to thank Congressman Visclosky from my neighboring state 
of Indiana for bringing forth his Steel Industry Relief legislation to 
the floor of the House today. As numerous steel companies begin to move 
from Chapter 11 to Chapter 7 bankruptcy, it is becoming obvious that 
pension and health commitments will fall with the corporations. His 
amendment will address the needs of retired workers and allow steel 
companies to merge and restructure to survive in the predatory world 
steel market of the 21st century.
  Mr. Speaker, the Steel Industry Relief legislation will only begin to 
address the amount of assistance Congress needs to give to the vital 
domestic steel industry. But it is a good start. Again, I would like to 
thank my colleague from my neighboring state of Indiana, Mr. Visclosky, 
for his thoughtful amendment. His northwest Indiana district may be the 
most affected congressional district in the nation as a result of 
closing steel mills. Some congressional districts like mine will be 
substantially affected by these problems. But in time, all of America 
will surely suffer if these troubling trends continue. We must protect 
and support American steel.

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