Kelly: Multiemployer Pension Bill Lacks Meaningful Reform, Shortchanges Workers

Jul 25, 2019 Issues: Economy and Jobs

Washington, D.C. – Today, the House of Representatives passed H.R. 397, the Rehabilitation for Multiemployer Pensions Act, a bill that attempts to address the ongoing private-sector union pension solvency crisis. Representative Mike Kelly, R-Pa., voted against the bill and issued the following statement explaining his vote:

Let’s be clear: the American workers who are the victims of the union pension solvency crisis did absolutely nothing wrong. These men and women negotiated and were promised life-long benefits in exchange for decades of their hard work.

Sadly, the pension funds were poorly managed by their trustees. I am firmly committed to addressing the problem, but the bill we voted on today doesn’t fix it. It offers no accountability for the risky and unsustainable decisions those trustees have made in the past, does not put pension funds on a path to long-term solvency, and puts millions of non-union taxpayers on the hook for the cost. That is bad policy.