DEMOCRATIC WHIP HOYER ON PASSAGE OF PENSION FUNDING BILL

WASHINGTON – House Democratic Whip Steny Hoyer (MD) released the following statement today in support of House passage of H.R. 3108, the Pension Funding Equity Act of 2003:

“I am very pleased that the House finally passed the Pension Funding Equity Act of 2003 conference report today. 

“This legislation is a necessary step to help ensure stability in the pension system for millions of American workers during these uncertain economic times.  Although I am concerned that important and necessary provisions were dropped in conference, I feel this temporary relief is needed while a long-term solution is constructed. 

“I am also very concerned that the Bush Administration influenced conference negotiations that, for once, seemed to be progressing in an open and bipartisan manner.  I would like to see the Administration focus on achieving a long-term solution to the problems facing American workers and their retirement rather than strong-arming the GOP leadership into stripping-out bipartisan provisions to fulfill a political agenda.

“This legislation’s broad bipartisan support makes clear that Democrats are committed to advancing a bipartisan agenda that benefits both American workers and the business community.”