Week in Review
Here is a brief recap of the week as Mike DeWine and Jon Husted continue to travel the state and talk about their plans to take Ohio to the next level and give everyone the opportunity to achieve the American Dream.
In their first week since clinching the Republican Nominations for Governor and Lieutenant Governor, the Republican Party quickly unified behind our strong slate of candidates. Including conservative leaders, grassroots organizers, and even donors. Our campaign was able to raise over $1 million in just 72 hours after the primary election. Read more from Cleveland.com below.
DeWine-Husted ticket raises over $1 million in 72 Hours after GOP Primary win
CLEVELAND, Ohio — Mike DeWine’s campaign for governor raised $1 million in the 72-hour period after he won the Republican nomination last week, his campaign said Monday.
Campaign officials refused to release more detailed information, but said the donations ranged from just $5 to $12,707.79, the maximum contribution allowed for an individual donor under Ohio law. None of the new money came from DeWine himself, the campaign said. Details will be available when candidates file campaign disclosures next month.
The release is a show of financial strength from the DeWine campaign. For comparison, Democratic nominee Richard Cordray raised about $3.3 million during his entire campaign for governor.
Campaign spokesman Josh Eck said he did not know if the Wednesday morning tweet from President Donald Trump congratulating DeWine on his victory was a factor when it came to generating fundraising interest.
“While Democrats take a break from their bruising primary, Republicans across Ohio are united behind Mike DeWine and Jon Husted as the leaders of our party going forward,” Eck said in an emailed statement.
DeWine, Husted Tout Plans to Grow Ohio’s Workforce at RAMTEC in Marion, Ohio
Mike DeWine and Jon Husted along with leaders in education and workforce development toured RAMTEC at Tri-Rivers Career Center in Marion with local business leaders. The visit continues to highlight Mike DeWine’s commitment to improving our workforce development efforts, closing the skills gap, and bringing 21st Century jobs to Ohio.
DeWine-Husted Team visits the Reeb Avenue Center in Columbus
This week Ohio’s next Governor and Lt. Governor visited the Reeb Avenue Center in Columbus’ Southside, which is working to help Ohioans struggling with unemployment, poverty, and addiction by building self-sufficiency and connecting them with opportunities through education and job training and placement.
Rob’s Rundown: Week of May 14-18, 2018
Senator Rob Portman
This week, Senator Portman voted to confirm Gina Haspel as the first female director of the CIA. Portman delivered remarks on the Senate floor honoring Ohio police officers for National Police Week as well as on the opioid epidemic and the need for Congress to pass the STOP Act as drafted in the Senate. Portman also spoke at the Joint Select Committee on Solvency of Multiemployer Pensions Plans hearing where he expressed concern about how the projected insolvency of the Pension Benefit Guaranty Corporation (PBGC) in 2025 under current law would negatively impact workers and our economy. Finally, Senator Portman applauded the Senate Energy and Natural Resources Committee for passing his bipartisan legislation to designate the Veterans Memorial and Museum in Columbus, Ohio, as the National Veterans Memorial and Museum.
For a more detailed look at Senator Portman’s week, please see the following:
Monday, May 14
During Police Week, Portman Honors Ohio Police Officers on Senate Floor
During National Police Week, Portman delivered remarks on the Senate floor honoring Ohio police officers. Portman, who joined with his bipartisan colleagues to introduce a resolution designating May 13-19, 2018, as “National Police Week,” recounted recent stories of Ohio police officers who risked their own safety in dedication to justice and a sense of duty to protecting those in need.
Said Portman in his speech: “I’m honored to be able to be here on the floor this evening to thank these police officers and their families, and I look forward to seeing them here in Washington this week and letting them know that in this chamber, in this Congress, and in this country, we appreciate what they do. We’re grateful for their service and we understand their sacrifices.”
Portman again recognized the service and sacrifice of Officer Tony Morelli and Officer Eric Joering of the Westerville Police Department who were both killed while responding to a 911 call on February 10th.
Tuesday, May 15
Portman Op-Ed in The Washington Post: “The Private Sector Has A Powerful Incentive To Treat Opioid Addiction”
With the help of pro-growth policies, including tax reform and regulatory reform, our economy is growing and businesses are expanding. One of the most pressing challenges that businesses still face is finding qualified workers to fill in-demand positions. To expand our workforce and maintain the momentum in our growing economy, Senator Portman argues that the public and private sector need to work together to get those gripped by addiction off drugs, back into the workforce, and contributing to society.
Portman is the co-author of the bipartisanComprehensive Addiction & Recovery Act(CARA) that became law in 2016 and provides resources for evidence-based prevention, treatment, and recovery programs to help people overcome their addiction. He recently introduced CARA 2.0 to build on CARA’s successes since becoming law. In his op-ed, Portman says that the business community needs to do more to help combat addiction, and they have every incentive to do so.
Said Portman in the piece: “Addiction takes over lives, strips affected Americans of their ambition and tears at the very fabric of our society. It is also undermining our economy at a time when workers are badly needed.”
On Fox News, Portman Discusses Relations with North Korea and the Israeli-Palestinian Conflict
During an interview with Fox News’ Happening Now, Senator Portman discussed the upcoming direct talks with North Korea and the need for the United States to maintain maximum pressure on the regime to change course and dismantle its nuclear weapons systems. Portman also highlighted the need for a peaceful and diplomatic two-state approach to address the Israeli-Palestinian Conflict.
At Committee Hearing, Portman Discusses Need to Improve Access to High-Speed Internet in Rural Areas
At the Senate Energy & Natural Resources Committee hearing, Portman questioned the administration’s nominee to be the Chair of the Advisory Council on Historic Preservation, Aimee Jorjani, on her views about the need to expand high-speed internet coverage to rural areas in Ohio and around the country.
At Homeland Security Committee Hearing, DHS Secretary Nielsen Reconfirms Support for STOP Act to Combat Opioid Crisis
During questioning from Portman at a Senate Homeland Security & Governmental Affairs Committee hearing, Department of Homeland Security Secretary Kirstjen Nielsen reconfirmed her support for Portman’s bipartisan Synthetics Trafficking & Overdose Prevention (STOP) Act. The bipartisan measure will help to stop dangerous synthetic drugs like fentanyl and carfentanil from being shipped through our borders to drug traffickers here in the United States. Nielsen had previously outlined her support for the bill last November.
Wednesday, May 16
Portman Makes the Case for New AUMF to Strengthen America’s National Security
At a Senate Foreign Relations Committee hearing, Portman reinforced his support for a bipartisan proposal for a new Authorization for Use of Militarized Force (AUMF) to combat terrorist groups like ISIS and al-Qaeda. The proposal preserves the president’s vital constitutional authority as commander-in-chief of the U.S. military to take action to protect Americans from a constantly-evolving, and geographically-dispersed terrorist threat, while also ensuring greater congressional input, oversight, and accountability of the decision-making process. The current AUMF in place has not been modified in 17 years, and Portman urged his colleagues to work together in a bipartisan manner to create language for a new AUMF tailored to today’s threats.
Portman Statement on Net Neutrality
Portman today issued the following statement after the U.S. Senate’s vote on net neutrality:
“I support a law to protect consumers and secure an open internet, not a partisan regulatory process at the Federal Communications Commission (FCC) that can be easily changed from administration to administration. Regardless of whether the FCC is chaired by a Republican or Democrat – Congress should set the rules for the internet and act on legislation that would prevent blocking, throttling, and paid prioritization of internet traffic. I have spoken with Chairman Thune and he made a commitment to me that he is proceeding on bipartisan legislation that embodies these principles. Moreover, I don’t believe the FCC had the legal authority to do what it did in 2015, and that’s another reason I voted against the CRA today. We should not resurrect rules that should not have been done by the regulatory process in the first place. It’s time for the Senate to do the hard work necessary to find a bipartisan, sustainable path forward that would protect consumers and provide certainty for innovators and small businesses.”
Portman, Klobuchar Statement on the STOP Act & House Ways & Means Committee Action
Senators Portman and Amy Klobuchar (D-MN) issued the following statement today after the House Ways & Means Committee to approve a weaker alternative to their bipartisan Synthetics Trafficking and Overdose Prevention (STOP) Act:
“As the co-authors of the STOP Act in the U.S. Senate, we’re disappointed that instead of marking up our bipartisan legislation – which has 34 cosponsors in the Senate and 271 in the House – the Ways & Means Committee instead chose to consider a weaker alternative that seems to perpetuate the status quo rather than help solve the opioid crisis. We are concerned that this weaker alternative would eliminate the real, enforceable, and immediate requirement that the Postal Service provide law enforcement with the information they need to identify and stop the shipment of deadly synthetic drugs into our communities. In particular, the STOP Act requires the Postal Service to secure advanced electronic data on 100 percent of the packages entering the United States and transmit that data to Customs and Border Protection.
“There is a strong bipartisan consensus that our bill, the STOP Act, will help combat the wave of opioid addiction and overdose deaths that are sweeping this country. The Trump administration has endorsed the measure, and the Secretary of Homeland Security reaffirmed her support for it again just yesterday. We appreciate the fact that Chairman Brady has acknowledged our concerns and is committed to working with us to resolve these differences.”
Thursday, May 17
Committee Approves Portman, Brown Bipartisan Legislation to Designate National Veterans Memorial and Museum in Columbus
Senators Portman and Sherrod Brown (D-OH) applauded the Senate Energy and Natural Resources Committee for passing his bipartisan legislation, the National Veterans Memorial and Museum Act, which would designate the Veterans Memorial and Museum in Columbus, Ohio, as the National Veterans Memorial and Museum. This museum will provide an important venue to honor America’s veterans and educate the American people about their sacrifice. Representatives Steve Stivers (R-OH), Joyce Beatty (D-OH) and Pat Tiberi (R-OH) introduced companion legislation that passed the House on November 7, 2017. The legislation now awaits action on the Senate floor.
“Our veterans have made countless sacrifices on our behalf, and we owe our freedom and liberty to their bravery,” said Portman. “It is important that our future generations know about the selfless sacrifices made by so many men and women of the armed forces and their families. The National Veterans Memorial and Museum in Columbus is one way we can commemorate not only brave Ohioans, but all Americans veterans, and I’m glad the Energy and Natural Resources Committee passed this legislation today. I urge my colleagues to join us in supporting this bill so that we can get it to the president’s desk for his signature.”
At Multiemployer Pension Hearing, Portman Addresses the Impact on Employers & Workers of Projected PBGC Insolvency in 2025
At the Joint Select Committee on Solvency of Multiemployer Pensions Plans hearing, Portman expressed concern about how the projected insolvency of the Pension Benefit Guaranty Corporation (PBGC) in 2025 under current law would negatively impact workers and our economy. Portman is hopeful that his colleagues on both sides of the aisle can come together to achieve a comprehensive and permanent solution that protects earned pensions, protects taxpayer dollars, prevents the insolvency of the PBGC, and alleviates pressure on employers.
The Joint Select Committee on Solvency of Multiemployer Pension Plans consists of 16 members of Congress: four Republicans and four Democrats in the both the House and Senate. The deadline for the Committee to vote on a statement of findings and recommendations, and propose legislation to carry out these recommendations, is November 30th. In order to successfully report out legislation, a minimum of five out of the eight members of both parties must support it.
Portman Votes to Confirm Gina Haspel as CIA Director
Portman issued the following statement after voting to confirm Gina Haspel as the next director of the Central Intelligence Agency (CIA):
“Gina Haspel has spent her entire career at the Central Intelligence Agency dedicated to the cause of protecting our country and keeping the American people safe. She’s a consummate professional and a patriot, and with the global threats facing the United States right now, we need somebody with her background and experience in this critical role. It is noteworthy that she has the public support of eight former CIA directors or acting directors, two former Secretaries of State, and dozens of former senior government officials from both Republican and Democratic administrations. That list includes Leon Panetta, John Brennan, and James Clapper, all of whom were all key intelligence leaders in the Obama administration.
“Haspel has served an agent in the field, she’s been a station chief in dangerous areas, she has held leadership positions in the clandestine service, she was the first female deputy director of the CIA, and now she is the first female director of the CIA. Her appointment to the highest role at the agency sends an important message to the workforce about the value of their work and the sacrifices they make every day. I look forward to working with her.”
Portman, Heinrich Lead Bipartisan Group Of Senators Urging Trump Administration To Combat Anti-Semitism, Appoint Special Envoy
Senators Portman and Martin Heinrich (D-NM) led a bipartisan group of 41 U.S. Senators urging President Donald Trump to appoint a Special Envoy to Monitor and Combat Anti-Semitism, a position at the U.S. Department of State that has now remained vacant for over 15 months.
In a letter to President Trump, the senators emphasized the importance of the United States leading with action to combat anti-Semitism at home and abroad.
“There has been an acute global increase in anti-Semitic incidents over the last year, often taking place in the form of violent attacks, bomb threats, vandalism, and hateful rhetoric spanning all levels of society,” wrote the senators. “The Special Envoy position and the Office to Monitor and Combat Anti-Semitism are critical in the leadership role of the United States in guiding a rules-based international order that promotes peace, security and opportunity for all people. We hold firmly that no one should have to live in fear of bias and hate, and that no one should be persecuted as a result of their faith. Now more than ever, it is imperative that the United States upholds its commitment to freedom and human rights around the world.”
In the United States, the Anti-Defamation League’s (ADL) annual Audit of Anti-Semitic Incidents documented a 57 percent rise in anti-Semitic incidents in 2017 – the largest single-year increase on record and the second highest number reported since ADL started tracking such data in 1979.
The letter was signed by U.S. Senators Rob Portman (R-OH), Martin Heinrich (D-NM), Elizabeth Warren (D-MA), Marco Rubio (R-FL), Chris Coons (D-DE), Lisa Murkowski (R-AK), Bill Nelson (D-FL), John Barrasso (R-WY), Richard Blumenthal (D-CT), Susan Collins (R-ME), Tom Udall (D-NM), Orrin Hatch (R-UT), Chris Van Hollen (D-MD), Johnny Isakson (R-GA), Maria Cantwell (D-WA), Tim Scott (R-SC), Amy Klobuchar (D-MN), Jerry Moran (R-KS), Bernie Sanders (I-VT), John Thune (R-SD), Kirsten Gillibrand (D-N.Y.), David Perdue (R-GA), Ron Wyden (D-OR), Cory Gardner (R-CO), Patty Murray (D-WA), Richard J. Durbin (D-IL), Tina Smith (D-MN), Sherrod Brown (D-OH), Cory Booker (D-NJ), Tim Kaine (D-VA), Jack Reed (D-RI), Tammy Duckworth (D-IL), Tammy Baldwin (D-WI), Gary Peters (D-MI), Sheldon Whitehouse (D-RI), Robert P. Casey (D-PA), Edward J. Markey (D-MA), Benjamin L. Cardin (D-MD), Debbie Stabenow (D-MI), Joe Donnelly (D-IN), and Chris Murphy (D-CT).
On Fox News, Portman Discusses China’s Unfair Trade Practices
During an interview with Fox News’ Your World with Neil Cavuto, Portman discussed the ongoing trade discussions with China and the need to hold China accountable for violating our trade laws. Portman also highlighted the need for finding a middle ground on trade that emphasizes reciprocity, holding the country accountable for intellectual property violations, and creating a level playing field for American businesses and products.
On the Senate Floor, Portman Discusses the Need to Pass the Senate STOP Act
Portman delivered remarks on the Senate floor discussing the opioid epidemic gripping Ohio—and our country—and his bipartisan bill that will give law enforcement the tools they need to help identify and stop synthetic opioids from being shipped into the U.S. The Synthetics Trafficking & Overdose Prevention (STOP) Act is legislation designed to help combat addiction on the front end by giving law enforcement the tools to identify and stop dangerous synthetic drugs such as fentanyl and carfentanil from being shipped through our borders to drug traffickers here in the United States.
Portman also discussed the need for Congress to pass the STOP Act as drafted in the Senate. The House of Representatives Ways & Means Committee considered a weaker alternative to the senate’s STOP Act that would eliminate the real, enforceable, and immediate requirement that the Postal Service provide law enforcement with the information they need to identify and stop the shipment of deadly synthetic drugs into our communities.
Friday, May 18
As Part of Results for the Middle-Class Tax Reform Tour, Portman Visits Ariel Corporation
Portman, as part of his Results for the Middle-Class Tax Reform Tour, visited and toured Ariel Corporation, the world’s largest manufacturer of separable reciprocating gas compressors. As a result of the savings from the Tax Cuts & Jobs Act, Ariel Corporation is expanding manufacturing capabilities, increasing wages and retirement benefits, and continuing to give back to the community.
“Ariel Corporation is another great example of an Ohio company using their tax reform savings to invest in their employees, reinvest in their equipment, and give back to the community,” said Portman. “All over Ohio we’re already seeing significant benefits of this new law. I’ve visited 17 businesses around Ohio that have announced new investments in their businesses and their workers, including higher wages, bonuses, new plants and equipment, and more retirement benefits. I’m excited about the opportunities ahead, and I will continue to work with companies throughout Ohio to help spur new economic growth and development.”
So far on his tax reform tour, Portman has visited Kroger, Worldpay Inc. and the Sheffer Corporation in Cincinnati, the UH Rainbow Center for Women and Children and Tremcoin Cleveland, the Fredon Corporationand Steris Corporation in Mentor,GKM Auto Partsin Zanesville, Wolf Metals in Columbus, Bruns General Contracting in Tipp City, Lima Pallet Company in Lima, Velvet Ice Cream in Utica, ProMedicain Toledo, the Ronald McDonald House in Akron, the YMCA in Youngstown and hosted a roundtable with members of the Ohio Craft Brewers Association in Columbus, all of which have announced new investments in their businesses and their employees because of the savings from the Tax Cuts & Jobs Act. This includes investing in new plants and equipment, increasing wages, paying bonuses, increasing charitable giving, reinstating health care, expanding 401(k) benefits and making additional contributions to employee pension plans.
In Columbus, Portman Participates in a “Future of Workforce” Panel with Amazon and Other Regional Leaders
Portman participated in a “Future of Workforce” panel discussion today at Center of Science and Industry (COSI) with Amazon, the Columbus Partnership, Columbus State Community College, and other regional leaders to discuss how stakeholders are working together to ensure central Ohio is well-positioned to meet the workforce needs of area employers today and in the future.
The discussion also highlighted the launch of Amazon’s Career Choice program for central Ohio, which Portman helped announce earlier this morning in Etna. Career Choice is Amazon’s tuition assistance program for hourly associates, paying 95 percent of tuition expenses for Amazon associates who have been with the company at least one year to pursue certificates or associate degrees in fields of study that are specifically targeted for in demand jobs, including healthcare, manufacturing, IT/computer science, and commercial driving.
“Educational incentive programs like Amazon’s Career Choice are vital to ensuring that we continue to aim to educate and help prepare individuals for the workforce,” said Portman. “I was pleased to see many community and business leaders participated in today’s event. Great ideas where shared today and I look forward to a growing partnership between local businesses and Amazon to ensure that individuals are prepared and aware of career opportunities.”
In Columbus, Portman Tours Eleventh Candle Company and Visits with Survivors of Human Trafficking
Portman toured Eleventh Candle Company, an organization that strives to redeem, restore, empower and equip those vulnerable to human trafficking, abuse, exploitation and addiction. Following the tour, Portman met with survivors of human trafficking.
The recent enactment of Senator Portman’s bipartisan Stop Enabling Sex Traffickers Act (SESTA) was a big victory for trafficking victims and survivors who, for too long, have been denied the opportunity to get the justice they deserve. The measure was the culmination of a three-year effort – which included a victory at the Supreme Court – to hold accountable Backpage.com and other websites that knowingly facilitate online sex trafficking of women and children. The nearly two-year investigation by Portman’s Permanent Subcommittee on Investigations (PSI) culminated in a shocking report which detailed how Backpage facilitated criminal sex trafficking and then covered up evidence of these crimes in order to increase its own profits.
“I appreciated the opportunity to visit Eleventh Candle Company, an outstanding organization dedicated to ending human trafficking and providing both support and employment opportunities for victims of the horrendous crime,” said Portman. “I’ve heard from so many advocacy groups and survivors around Ohio, and one website comes up over and over again – Backpage. In this country, in this century, our women and children should not be sold online and I’m pleased that Backpage has now been shut down. It is a sign that SESTA is already making a positive difference. I will continue to work with my colleagues to combat this horrific crime in a bipartisan manner so that every woman and child can reach their God-given potential.”
On Social Media
The private sector has a powerful incentive to treat opioid addiction
In the steadily growing U.S. economy, with tax reform and regulatory relief leading businesses to invest more in both facilities and people, the unemployment rate stands at 3.9 percent, the lowest since 2000.
A record number of business owners say now is a good time to expand, but our workforce needs are going unmet. I see this in Ohio, where employers increasingly tell me that their biggest challenge is finding workers.
One reason workers are scarce is the historically low labor-force participation rate — the number of able-bodied, working-age Americans who are outside the economy, not working or even looking for work. These people are not included in the unemployment numbers. In fact, if the United States were at its pre-recession level of labor force participation, today’s unemployment rate wouldn’t be 3.9 percent — it would be a disappointing 8.6 percent.
Some new data suggest that the most significant factor contributing to this labor-force decline is the opioid epidemic.
Last year, a Brookings Institution report found that about half of men age 25 to 54 not in the labor force take pain medication daily, and nearly two-thirds of that group take prescription pain medication. This year, a Labor Department survey found that 44 percent of men in this age group who were out of the labor force acknowledged taking pain medication the previous day. The true number is likely higher than that because of the stigma and the legal risk involved in admitting drug use.
Most businesses recognize the difficulty of finding workers who can pass a drug test, but the workforce impact is far deeper because millions of Americans who are out of work aren’t even showing up to take the drug test in the first place.
Addiction takes over lives, strips affected Americans of their ambition and tears at the very fabric of our society. It is also undermining our economy at a time when workers are badly needed.
In the past two years, Congress has taken important steps to address the crisis. The 2016 Comprehensive Addiction and Recovery Act, or CARA, provides resources for evidence-based prevention, treatment and recovery programs to help break the cycle of addiction. The 21st Century Cures Act, passed later that year, and the recent budget agreement provide to states unprecedented funding to combat the opioid epidemic. And the recently introduced CARA 2.0 will ensure additional funding is well spent on evidence-based programs.
While Washington has a role to play in addressing this crisis, it will ultimately be solved at the local level. Everyone has a role to play, including business leaders. It is time for them to step up in a more significant way with solutions within their companies and in their cities and towns.
One significant issue is the over-prescription of pain pills. About 80 percent of heroin users start with prescription drugs. CARA 2.0 will limit opioid prescriptions to three days for acute pain based on guidelines from the Centers for Disease Control and Prevention. Some medical associations and drug companies are pushing back against this proposal, but businesses don’t have to wait for legislation to act. A few companies already have changed their prescription policies; more should join.
I’ve also seen the positive contributions an engaged private sector can make at the local level. At the new Maryhaven Addiction Stabilization Center in Columbus, Ohio, private-sector funding — including business support — combined with funding from Congress is being used to try something innovative: The center offers longer-term treatment in the same facility where it performs overdose reversal and stabilization.
A remarkably high 80 percent to 90 percent of the people stabilized at Maryhaven opt to stay for treatment. Sadly, the opposite is more common; the vast majority of individuals at other facilities who get emergency treatment for an overdose soon return to their old environment and old habits, often resulting in another crisis.
The private sector should also join in a national prevention and education campaign. An effective online, print and broadcast campaign is needed to save lives.
Overdose statistics and high rates of addiction among those out of work aren’t just numbers — they represent people with broken dreams. Based on the clear impact opioids are having on workforce availability, the private sector has every incentive to step up. We all have a role to play in getting people off the sidelines and back to productive lives so they can live up to their God-given potential.
(The private sector has a powerful incentive to treat opioid addiction. Rob Portman. Washington Post. May 14. 2018.)
Senators push for pension solutions
U.S. Senator Sherrod Brown (D-OH) joined Senator Orrin Hatch (R-Utah) Thursday to chair the third hearing of the bipartisan, joint House-Senate committee tasked with solving the pending pension crisis threatening small businesses and 1.3 million workers and retirees nationwide. More than 60,000 Ohio workers and retirees are at risk.
Senator Rob Portman (R-OH) also expressed concern about how the projected insolvency of PBGC in 2025 under current law would negatively impact workers and our economy. Portman is hopeful his colleagues on both sides of the aisle can come together to achieve a comprehensive and permanent solution that protects earned pensions, protects taxpayer dollars, prevents the insolvency of the PBGC, and alleviates pressure on employers.
“Your testimony today was very sobering because it lays out clearly the huge challenge that we face,” Portman told Reeder. “You were just talking back and forth about when PBGC might go insolvent and it sounds like 2025 is the year that you’ve kind of focused on. I understand that there might be some changes that will push that a little forward or a little back, but that’s only seven years from now. And that’s PBGC insolvency, which is sort of the most dramatic of the potential problems that we face, and to me the drastic cuts in the earned pensions. Again, you’ve talked a lot about that today and what that is, but if you go insolvent it’s about a 90 percent cut to the Central States pension fund, the teamsters.
“I think the broad impact, that’s the bigger issue we have to talk about, too. As bad as it is for these retirees and for these individual plans it also has a broader impact on our economy, and not just the local communities that will obviously be affected but also the larger economy,” Portman told Reeder.
(Senators push for pension solutions. Portsmouth Daily Times. May 18, 2018.)
RECOMMENDED FOR YOU