Executive Calendar

Floor Speech

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Ms. BALDWIN. Mr. President, I rise on behalf of the more than 25,000 workers and retirees in Wisconsin who have paid into the Central States Pension Fund.

If Washington does not act, workers and retirees face massive cuts to the pensions they have earned over decades of work. If Washington does not act, small businesses will be on the hook for a pension liability they cannot afford.

I have been proud to work side by side with Wisconsin workers and retirees and with Senator Brown, who introduced the Butch Lewis Act, and I have been proud to work with Senator Donnelly and others to organize this afternoon's opportunity to share the stories of the hard- working people and retirees we represent.

The bill--the Butch Lewis Act--will put failing multiemployer pension plans, including Central States, back on solid ground, and it does so without cutting a single cent from the pension retirees have earned.

I have also introduced legislation to help shore up the government's insurance plan for these pensions. Earlier this year, I shared the stories of Wisconsin retirees who stand to lose more than 50 percent of their pensions if Washington does not act. Since then, nothing has been done. I am here once again to remind my colleagues that this is about a promise that must be kept.

This is about a promise made to Gary, from Marshfield, WI. Gary told me:

We recently got custody of our great grandson, and raising an 8 year old is expensive, more expensive than when our kids were young. If my pension gets cut, it would definitely affect our family.

I relate to Gary's comments because I was raised by my grandparents. I can't imagine raising a great-grandchild. So thank you for doing that. Also, yes, it does cost money, and you need to have the stability of keeping the promises that you were given when you enrolled in Central States Pension.

This is about a promise made to Diane and her husband, from Luxemburg, WI. Diane wrote to tell me:

If my husband loses his pension, we could lose our house. My husband has been through polio, cancer, a knee replacement--and he needs another. He worked hard all his life lifting thousands of pounds every day in a grocery warehouse. We paid into a pension expecting to have a comfortable life in retirement--and now it's at risk of being lost.

This is about a promise we made to Michael, from De Pere, WI, a Vietnam veteran. For over 30 years, Michael was a driver at a local construction business. His wife is a retired nurse. They both worked long hours and are now at the age where finding a new job is not an option. Michael told me:

With increasing costs of living and prescription drugs, losing my pension would leave us in a state of devastation.

This is about a promise made to Randall. Randall is from Suamico, WI. He is a retired truckdriver. Randall told me about long hours on the road and leaving his wife at home to care for their children. In 2015 he received a letter from Central States Pension Fund informing him that his pension would be cut in half.

I can't imagine receiving that sort of devastating news.

Randall is 68 years old, he is in poor health, and he would find it impossible to find another job today. He said:

My wife and I both worked hard our entire lives. Our hard work should have meant a secure retirement, and we are worried sick about the possibility of losing my pension. It is difficult to sleep at night.

If Washington does not act, we will be breaking a promise made to 1.5 million workers and retirees nationwide. Small businesses will make hard decisions to lay off workers or close their doors. Washington needs to act, and we need to do it now.

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