Mark-up expected today for H.R. 1140, H.R. 1020
WASHINGTON, May 9 -- The House Transportation & Infrastructure Subcommittee on Railroads is expected to take action on two important pieces of legislation today. The subcommittee is expected to mark-up both H.R. 1140 -- the Railroad Retirement & Survivors' Improvement Act of 2001 -- and H.R. 1020 -- the Railroad Track Modernization Act of 2001.
H.R. 1020 would provide $350 million per year in grants for each fiscal year 2002-2004 to Class II and Class III railroads to rehabilitate, preserve or improve railroad tracks and bridges for freight transportation, particularly when handling 286,000 pound rail cars.
H.R. 1140 contains all the benefit improvements agreed to by rail management and labor -- long-needed improvements in the surviving spouse benefit, full retirement annuity at age 60 with 30 years of service, elimination of artificial caps on benefits, vesting after five years instead of 10, and provisions that require the carriers to insure future fund solvency with future tax increases if necessary.
The BLE is actively supporting passage of both of these measures.
© 2001 Brotherhood of Locomotive Engineers