[Congressional Record (Bound Edition), Volume 151 (2005), Part 15]
[House]
[Page 20449]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           AIRLINE EMPLOYEES

  (Mr. PRICE of Georgia asked and was given permission to address the 
House for 1 minute.)
  Mr. PRICE of Georgia. Mr. Speaker, yesterday, two cornerstones of the 
airline industry filed for bankruptcy. The headlines this morning talk 
about Delta and Northwest and the customers, but what should be on the 
front page are headlines about the employees. The employees are the 
ones who will be impacted the most. Delta and Northwest combined have 
over 90,000 employees, and that number does not include the retirees 
who will also have to deal with this issue.
  People who have worked a lifetime to retire comfortably are now in 
jeopardy of having their promised benefits cut by 75 percent. Can you 
imagine that, 75 percent?
  Delta and Northwest Airlines are the latest casualties in a 
competitive airline industry, and these recent Chapter 11 filings are a 
symptom of a greater problem and must serve as a wake-up call for all 
of us. Employees must have the flexibility to choose how they wish to 
secure their retirements if legacy carriers are to remain in the 
industry. This means IRAs and 401(k)s, the power to secure your 
retirement should be in your own hands.
  Mr. Speaker, the news today affects all of us, and I ask my 
colleagues to support comprehensive airline pension reform so these 
employees retain a more secure future.

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