Ryan bill would help Delphi, GM retirees
WARREN — U.S. Rep. Tim Ryan of Niles, D-17th, introduced legislation in Washington that would provide funding for a Voluntary Employees Beneficiary Association (VEBA), which would cover Delphi hourly and salaried employees and retirees who lost their health coverage through Delphi and GM’s Chapter 11.
The bill, introduced Friday, instructs the Treasury Department to place $3 billion of unused money from the Emergency Economic Stabilization Act of 2008 (TARP) into a health-care trust for Delphi retirees who lose their health coverage through Delphi and GM’s Chapter 11 bankruptcies. The VEBA will provide health care at levels similar to that which retirees are either receiving or received before Delphi’s bankruptcy.
Ryan was joined by Thaddeus McCotter (R-MI), as well as Ohio Democratic Reps. Betty Sutton, Mary Jo Kilroy, Marcy Kaptur, Dennis Kucinich, Charlie Wilson and John Boccieri as original co-sponsors.