Oversight Leaders Demand Delphi Pension Documents, Consider Subpoena
WASHINGTON –Today, leaders on the House Oversight and Government Reform Committee pressed Treasury Secretary Jacob Lew to release documents related to the Delphi pension scandal and raised the possibility of using the compulsory process if the long-sought documents are not finally produced by August 5th.
Committee Chairman Darrell Issa (R-Calif.), Subcommittee Chairman John Mica (R-Fla.) and senior Committee member Mike Turner (R-Ohio) sent letters to Secretary Lew and Josh Gotbaum, Director of the Pension Benefit Guaranty Corporation, seeking documents related to the preferential treatment Delphi’s unionized employees received during the taxpayer-funded bailout of General Motors in 2008.
“Now is the time for the Treasury Department and the Pension Benefit Guaranty Corporation to stop stonewalling the Committee’s legitimate requests,” said Chairman John Mica, R-Fla. “We will take whatever steps necessary to uncover all the facts and to expose how the TARP union bailout transpired.”
“For far too long this Administration has refused to provide the documents and answers that the Delphi Salaried Retirees deserve,” said Rep. Mike Turner, R-Ohio. “They have willfully refused to comply with the oversight process, and in turn have spurned their commitment to the American people to be the ‘most transparent Administration’ in history. We will no longer accept excuses or delays. If the Administration once again ignores and evades the oversight process, compelling responses will be the only option left to ensure their compliance.”
The Subcommittee on Government Operations held a field hearing on the Delphi pension bailout on June 10, 2013. On September 27, 2012, the Committee demanded the documents from then-Treasury Secretary Timothy Geithner in a letter that stated public documents indicated the Treasury Department was “the driving force” between the disparate treatment of salaried and union employees’ pensions.