[Congressional Record (Bound Edition), Volume 148 (2002), Part 1]
[House]
[Pages 19-20]
[From the U.S. Government Publishing Office, www.gpo.gov]




        EMPLOYEE AND RETIREE RESTORATION ASSISTANCE ACT OF 2002

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from Texas (Ms. Jackson-Lee) is recognized for 5 minutes.
  Ms. JACKSON-LEE of Texas. Mr. Speaker, I rise today to call upon my 
colleagues to use the power vested in them as the highest lawmaking 
body of this Nation to be problem solvers, resolvers of a crisis, and 
that is the financial crisis that is taking place in Houston, Texas, 
with the company called Enron and the enormous impact that it is having 
on both retirees and employees located around this Nation. I believe we 
can do it.
  I think it is important that where the facts point, we will follow, 
and that we will not ignore the truth. But we must also be reminded 
that every time this Nation has faced a tragedy, the Federal Government 
has been there with strength and creativity and solutions. We can do no 
less now in responding to a crisis that may have both long-range and 
far-reaching impact.
  Today, I will file the Employee and Retiree Restoration and 
Assistance Act of 2002, which will prioritize restoring and assisting 
both the retirees and the laid-off employees of this company, because 
people have to be our number-one priority. I think Congress has to put 
as its number-one priority in this debacle to be able to make whole 
those innocent families who have been impacted. We have heard the 
stories, particularly from the retirees losing $2 million, $1 million, 
$700,000, $800,000, $200,000, $8,000; and we have been able to describe 
this as nothing smaller than a great tragedy.
  I believe this Congress has the ability to do several things, and I 
would call upon them to do so. Cap the amount of company stock that 
individual employees can put in their retirement funds. That can be 
done immediately. Pass the Employee and Retirees Restoration and 
Assistance Act of 2002 to prioritize those individuals as being the 
first ones to receive reimbursement if and when individuals were found 
to have perpetrated inappropriate behavior or illegal behavior. Put the 
employees first.
  Then, we should also find a way that the Federal courts can establish 
a fund in the New York bankruptcy proceeding so that laid-off Enron 
employees may be able to travel to New York from Houston to be able to 
watch the bankruptcy proceedings that they had originally asked to be 
held in Houston, Texas. This is allowed because we have done so under 
the Federal Judiciary when indigent petitioners are not able to travel 
long distances. In the alternative, we should try to provide home-based 
viewing of this particular proceeding for these employees who have been 
so hurt.
  I just wish to make my colleagues aware of one story in the crisis, 
that of Janice Farmer, who spent 16 years in the natural gas industry, 
starting as

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Florida Gas Transmission, which later became a part of Enron, and who 
worked in the right-of-way department and also at the training center 
where people were trained to handle natural gas safety.
  Janice retired from the Enron Corporation with nearly $700,000 in 
Enron stock. This was her life savings. This was to be set aside for 
her and her grandchildren. She was proud to invest, and she lost her 
money.
  This is just one of the many victims who have suffered because of the 
losses they have experienced. What I have been asked by those who live 
in Houston and elsewhere is that we do something for people first. This 
is where I believe this Congress can show itself well and proud, if the 
first act we do, the first legislative initiative that we pass will 
prioritize the needs of those Americans.
  We have come through some very troubling times in the last year. Many 
of us have faced natural disasters, such as Tropical Storm Allison in 
Texas. Certainly nothing can compare itself to the September 11 
tragedy. But America rose to the occasion, and our young men and women 
continue to fight for our freedom and justice and equality in places 
far away. And as I close, Mr. Speaker, we now have another national 
tragedy, an American tragedy, one that I do not equate to September 11; 
but I simply say that this Congress has the ability to solve these 
problems if we work hard and we prioritize and stay focused on helping 
the people who have been hurt most.
  Mr. Speaker, I ask that we pass immediately the Employees and 
Retirees Restoration Assistance Act of 2002.

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