[Congressional Record (Bound Edition), Volume 147 (2001), Part 17]
[Senate]
[Pages 23528-23529]
[From the U.S. Government Publishing Office, www.gpo.gov]



                          RAILROAD RETIREMENT

  Mr. CRAPO. Mr. President. I am pleased that we are proceeding on the 
Railroad Retirement and Survivors' Improvement Act. This important 
legislation will modernize the retirement system by giving rail 
employers and employees more responsibility and accountability for a 
private pension plan.

[[Page 23529]]

Moreover, the bill permits the reduction of payroll taxes and improves 
benefits for widows and widowers.
  The overwhelmingly success of today's vote, which transcended party 
lines and ideological persuasions, shows what can be accomplished when 
all parties work together. This was a victory for the workers in the 
yard, all the railroads and especially for the survivors of retirees.
  I am hopeful that we can build on today's momentum. This is a smart 
bill with bipartisan support. The consensus is that it makes sense to 
modernize the railroad retirement system in a way that increases 
benefits for railroad retirees and their families.

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