Brown, Portman Reaffirm Commitment to Solving Pension Crisis

Senators Say Meaningful Progress Has Been Made Toward a Bipartisan Proposal and Work will Continue Until Job is Done

WASHINGTON, D.C. —Today, U.S. Senators Sherrod Brown (D-OH) and Rob Portman (R-OH) released the following statements as they continue working together to find a solution to the pension crisis threatening 1.3 million Americans, 60,000 Ohioans, and thousands of small businesses around the country. Brown and Portman are both members of the House and Senate Joint Select Committee on Pensions. When the Committee was created, it was expected members would vote on a package by November 30th. The Senators say that while they have made significant progress and a bipartisan solution is attainable, more time is needed. So the committee will continue its work. In a joint statement with Brown, Committee Co-Chairman Orrin Hatch (R-UT) made the same commitment to continue working with Brown, Portman and other members of the committee past November.

“Ohio workers, retirees, businesses and taxpayers are counting on Congress to solve this crisis and we will not stop working until the job is done,” the Brown said. “Working together, Rob and I have made significant progress on the committee and we know that with more time a bipartisan agreement is achievable. We are grateful to Ohio workers, retirees and businesses whose tireless efforts have brought us this far and we are committed to continuing our work until Congress passes the solution Ohioans deserve.”

“We have made important progress towards reaching an agreement to help resolve this multiemployer pension crisis and these efforts must continue until we complete our work,” said Portman. “Without action, the multiemployer pension system will collapse, leaving many Ohio workers and retirees impoverished and forcing many employers to go bankrupt.  That’s an unacceptable outcome, and I will continue to work with my bipartisan colleagues until we solve this pension crisis once and for all.”