MULTIEMPLOYER PENSION UPDATE Posted On: Dec 03, 2018 Dear Teamster Political Coordinator: It has been a busy week on Capitol Hill. Two of our most prominent issues areas, pension and trade, had some big developments this week that you should be aware of. Pension Reform - On November 29th, Senators Brown and Hatch announced that the Joint Select Committee on Multiemployer Pension Solvency would not be able to reach an agreement by the statutorily imposed November 30th deadline. However, they pledged to continue to work beyond the deadline toward what they feel is an attainable bipartisan solution. Senators Brown and Portman issued a similarly worded statement on the same day. Those statements can be read here: https://www.brown.senate.gov/newsroom/press/release/brown-portman-reaffirm-commitment-to-solving-pension-crisis https://www.brown.senate.gov/newsroom/press/release/hatch-brown-commit-to-continued-work-on-pension-crisis-past-nov-30 We will provide further updates as details are made available about the specific plan to extend the Committee’s work. Trade Reform - On August 30th, President Trump notified the Congress of his Intent to Sign the United States-Mexico-Canada Agreement (USMCA), as required by Fast Track, which started a 90-day clock that expired with the actual signing that took place today in Buenos Aires. This signing marks just another step in replacing the North American Free Trade Agreement (NAFTA). Next, the US International Trade Commission has 105 days to publish its report on the likely economic effects. The Administration also has just 60 days to publish a list of proposed changes to US law necessary to comply with the new NAFTA, which will form the basis of the implementing bill that will be debated in the next Congress. The Teamsters have fought for the interests of our membership at every step of the way with this agreement so far. Because the underlying implementing legislation has not yet been formulated, we cannot say whether we can support this new deal or not, but we will continue to communicate with Members of Congress and the administration about the elements that we need to see in the legislation to earn Teamster support. The fight for fair trade is still ahead of us. We will keep you informed of what you can do to assist in this fight. Thank you.