Rep. Peter King, R-NY, is throwing his support behind the Butch Lewis Act of 2017, a Democrat-sponsored bill that would channel billions of dollars to struggling multiemployer pension plans through the sale of U.S. Treasury bonds.
King, an influential lawmaker in the House on homeland security and counter intelligence issues, is the first Republican to co-sponsor the bill, which was first introduced in the Senate by Sen. Sherrod Brown, D-OH. Rep. Richard Neal, D-MA, is sponsoring the House version.
His announcement was made beside Sen. Chuck Schumer, the minority leader in the Senate, and members of the International Brotherhood of Teamsters Local 707 at the chapter’s Hempstead, Long Island facility.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
