Scott Celebrates Protections For Retirees In American Rescue Plan

Statement

Chairman Robert C. "Bobby" Scott (VA-03) released the following statement after the House passed H.R. 1319, the American Rescue Plan Act, which includes important provisions that he helped craft to address the multiemployer pension crisis and protect workers' retirement benefits.

"The American Rescue Plan is a historic victory for more than 1 million retirees who have been at risk of losing everything they had worked so hard to save. Because of this relief package, construction workers, truck drivers, industrial bakers, grocery store workers, and many other hardworking Americans will have the retirement security they deserve.

"Solving the multiemployer pension crisis not only protects workers, retirees, and their families from financial ruin, it also shields businesses and taxpayers from the steep cost that would result if the pension system collapsed. The looming crisis has been projected to cost taxpayers at least $170 billion over 10 years, while threatening to bankrupt countless businesses.

"For years, workers, retirees, participating businesses, and key stakeholders across the country have been waiting for Congress to deliver a solution to the multiemployer pension crisis. That day is finally here. I am proud to have helped craft the language included in the American Rescue Plan, and I am grateful to my Democratic colleagues in the House and Senate for supporting this critical provision."

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