Ryan Votes for Pension Bill to Protect Workers' Pensions
Ryan Worked on Behalf of UAW and Auto Manufacturers to Reach Agreement that Improves Security of Auto Workers' and Retirees' Pensions
Wisconsin's First District Congressman Paul Ryan today voted for H.R. 4, the Pension Protection Act of 2006, which contains an agreement he fought for to ensure that auto sector employers such as GM will remain able to fund workers' pension plans. Over the past six months, Ryan worked closely with the United Auto Workers (UAW), General Motors (GM), the House Ways and Means Committee, and House and Senate pension bill conferees to reach this agreement on pension bill details. The UAW has announced its support for this pension legislation, which the House passed 279-131.
H.R. 4 incorporates the agreements reached during a House-Senate conference to resolve differences on earlier versions of legislation to strengthen the funding of pension plans, and the Senate is expected to pass it.
Since the House passed its version of pension legislation last December, including provisions that Congressman Ryan helped negotiate to protect auto workers' pension benefits, Ryan has been working to make sure that the final compromise version of the pension bill continues to protect workers' and retirees' pensions and enables employers to remain competitive.
"By working closely with auto companies and the UAW, we were able to reach a compromise that brings more security to the pensions of the tens of thousands of auto workers and retirees in Southeastern Wisconsin," Ryan said. "As Congress moved ahead to update these laws, we needed to protect workers' pension benefits and ensure that local employers such as GM and Chrysler can stay competitive, and this bill does that."
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