Washington D.C. – Today, Congressman Mike Turner (OH-3) sent a letter to Treasury Secretary Timothy Geithner, seeking answers ignored by Auto Task Force member Ron Bloom. On June 22, 2011, Bloom, then Special Assistant to the President for Manufacturing Policy, appeared as a witness before the House Oversight & Government Reform Subcommittee on Regulatory Affairs, Stimulus Oversight, and Government Spending. During the hearing entitled, the “Lasting Implications of the General Motors Bailout”, Turner submitted to Bloom 25 written questions regarding the Pension Benefit Guarantee Corporation’s (PBGC) decisions surrounding the GM bailout and cuts to Delphi salaried retirees’ pensions.
“It is my understanding that Mr. Bloom has stepped down from his position effective September 1, 2011. I am seriously concerned about Mr. Bloom’s lack of response to my inquiries regarding the Delphi salaried retirees’ pensions and expect the Administration will still respond to these questions,” writes Turner.
This latest effort follows the hearing, requested by Turner, on the decision by the PBGC that resulted in approximately 15,000 salaried Delphi retirees from across the country taking a severe cut in their pension benefits. Those retirees and the American people deserve and are awaiting answers as to why the Administration’s decision resulted in a 70 percent reduction in pensions and loss of health care for salaried Delphi retirees, but not other groups.
“Without explanation, members of the Auto Taskforce picked winners and losers when it came to pension benefits. Because of the substantial taxpayer investment in the auto industry, and the role of the Federal Government Agencies resulting in the reduction or elimination of these benefits, Congress has a responsibility to exercise its oversight authority in this matter and ensure that all Delphi employees receive the pensions they deserve,” stated Congressman Turner.