Rep. Jason Chaffetz introduces legislation that would preempt federal bailouts of unfunded state and local employee pension plans. Reports The Daily Caller.
Chaffetz’s resolution would state Congress’ opposition to the federal government providing funding for these plans.
“This is a massive problem, a massive disaster about to happen,” Chaffetz told The Daily Caller. “It is a bit of a warning shot across the bow to a number of states to let them know that Congress is in no mood to bailout their woes.”
(See also related Chaffetz press release.)