[Congressional Record (Bound Edition), Volume 151 (2005), Part 9]
[House]
[Page 12911]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     PASSING NEEDED PENSION REFORM

  (Mr. PRICE of Georgia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. PRICE of Georgia. Mr. Speaker, pension plans are on the minds of 
the American people. Just typing the words ``pension plan'' into an 
Internet search engine yields over 4,000 returns in less than a second.
  Americans are very concerned about their retirements. Couples who 
were planning where they will spend their golden years now are trying 
to figure out what to do with shrinking pension checks, as businesses 
struggle to fund their pension plans.
  Government and taxpayer bailouts are not fair to the public, and they 
are not a solution to the problem. Recent hearings here in the House 
have made the case crystal clear as experts have said that they think 
we need industry-specific reform.
  United Airlines recently dumped their pension plan onto the Pension 
Benefit Guarantee Corporation, so now thousands and thousands of their 
employees face an uncertain future and the PBGC goes billions of 
dollars further into the red. This is a no-win situation for everyone 
involved.
  Mr. Speaker, let us take action. Let us be proactive, and let us pass 
much-needed pension reform now.

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