Schumer Announces Senate Democratic Members of Joint Select Committees to Solve Pensions Crisis & Reform Budget Process

Bipartisan Budget Agreement of 2018 Established the Joint Select Committee on Solvency of Multiemployer Pension Plans & the Joint Select Committee on Budget and Appropriations Process Reform

 

WASHINGTON, D.C. – Senate Democratic Leader Chuck Schumer (D-NY) today announced the Senate Democratic committee memberships for the Joint Select Committee on Solvency of Multiemployer Pension Plans and the Joint Select Committee on Budget and Appropriations Process Reform. Both joint select committees were established as part of the bipartisan budget agreement reached on February 7, 2018.

The Joint Select Committee on Solvency of Multiemployer Pension Plans will provide recommendations and legislative language to significantly improve the solvency of multiemployer pension plans and the Pension Benefit Guaranty Corporation, which has been a priority for Democrats in the budget negotiations.  The Joint Select Committee on Budget and Appropriations Process Reform will provide recommendations and legislative language to significantly improve the budget and appropriations process. 

“Millions of middle-class workers in this country put money into pension plans year after year after year, forgoing larger salary increases or other benefits because they wanted to know that when they retire, they would have a little nest egg,” said Leader Schumer. “Unfortunately, those pensions are now in trouble, and if we don’t meet these pension obligations today, they’re going to cost the government a whole lot more tomorrow. Congress must deliver a legislative fix to shore up pension plans by the end of the year, and I am confident that this extremely talented, dedicated group of Democratic Senators on the joint select committees to solve the multiemployer pension crisis are just the right folks that middle-class Americans need in the ring fighting on their behalf to get the job done.”

“The Congressional budget process is in dire need of repair to ensure the government best benefits the middle class and our most vulnerable citizens throughout the country, not just the wealthiest or major corporations,” said Leader Schumer. “The Democrats on this committee have the acumen and dedication necessary to get the job done on behalf of all Americans, and I’m confident they will prevail.”

The Senate Democratic committee memberships for the joint select committees are as follows: