The move, which enjoyed bipartisan support as well as the support of railroad companies and their unions, would allow the federally administered railroad pension system to take the assets out of US Treasury bonds and invest the money in private securities instead.
The measure would cut payroll taxes paid by the railroads, while at the same time attempting to increase the benefits of retirees and their beneficiaries, who are not covered by social security (see House Joins Senate, Passes Railroad Pension Bill ).
The measure was opposed by some that argued that taxpayers would have to pick up the ‘tab’ for the program if the stock market investments fare poorly (see Republicans Derail Rail Pension Bill ).
– Nevin Adams firstname.lastname@example.org
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