What: All Issues : Labor Rights : Pension Protections : H.R. 1000. Employee Pensions/Vote on Democratic Substitute Measure to Safeguard Employee Pension Accounts and Restrict Overly-Generous Corporate Executive Pension Plans.
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H.R. 1000. Employee Pensions/Vote on Democratic Substitute Measure to Safeguard Employee Pension Accounts and Restrict Overly-Generous Corporate Executive Pension Plans.
house Roll Call 187     May 14, 2003
Y = Conservative
N = Progressive
Winning Side:
Conservative

As American Airlines was firing workers and negotiating wage reductions with the airline unions, the company gave its recently-resigned CEO a pension worth an estimated $1 million per year. During House debate on a bill to protect employee pensions, Congressman Andrews (D-NJ) offered a substitute measure on behalf of the Democratic party which would have, among other things, imposed the same pension rules on executives that apply to non-executives and created an excise tax on so-called "golden parachute" packages to departing executives. Progressives supported the Democratic plan because, in their view, workers should not be forced to accept wage reductions if a company is able to shower their executives with valuable pension plans or severance packages. It is unfair, Progressives argue, for workers to be fired or have their pay reduced when corporate executives continue to receive large sums while the company is struggling. The Democratic plan was defeated on a 193-236 vote.

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