Hoyer Statement on House Passage of the Butch Lewis Act

Statement

House Majority Leader Steny H. Hoyer (MD) released the following statement today after the House passed the Butch Lewis Act:

"Today, the House took action to protect the pensions of millions of Americans who labored for decades under the bargain that they trade wages today for a secure retirement tomorrow. This legislation will ensure that those who participate in multiemployer pensions will receive the benefits they earned. By creating a program within the Treasury Department to sell bonds to the public that finance loans to troubled multiemployer pensions, it will allow these plans to build their way back to solvency -- without benefit cuts -- and ultimately repay the Treasury with interest. I am pleased that we were able to pass this legislation on a bipartisan basis, and I hope the Senate will take up our bill soon. I thank Chairman Scott, Chairman Neal, and all of the cosponsors who worked with advocates to secure this victory for workers and retirees, and I was proud to bring it to the Floor today."

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