Steel: Legacy Cost Issue (CRS Report for Congress)
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| Release Date |
Revised Aug. 15, 2002 |
| Report Number |
RL31279 |
| Report Type |
Report |
| Authors |
Stephen Cooney, Resources, Science and Industry Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
The question of "legacy costs" has emerged as a key issue amid efforts to improve conditions within the U.S. steel industry. Legacy costs may be defined as pension and health care benefit provisions of steel worker contracts, especially for retirees, which provide benefits above and beyond related public entitlements and which are funded by earnings of steel companies. This report describes the issue, with some statistical data included. It indicates how the issue is addressed in the steel industry consolidation proposal put forward in December 2001 by the U.S. Steel Corporation, and reviews legislative proposals that address legacy costs.
