The Senate Committee on Appropriations has approved a $129 million budget for the Railroad Retirement Board (RRB) for fiscal year 2025. While this amount is higher than the House’s proposed funding and slightly increases from FY 2023, it falls short of the agency’s needs. The budget is $5 million less than the President’s request and $43.3 million below what the RRB itself requested.

The RRB is facing ongoing challenges due to previous budget cuts in FY 2024, which forced the agency to implement a hiring freeze and operational cutbacks. These constraints have led to the loss of valuable institutional knowledge as more employees retire, which could hinder the agency’s ability to effectively serve railroad workers and retirees.

Despite the slight increase in funding, the RRB warns that it may continue to struggle in fulfilling its mission. Union members, retirees, and railroads, who have contributed more than the average American to the retirement system, deserve the full benefits they’ve funded. The current budget level jeopardizes that promise.

However, there is hope on the horizon. Congressman Mark Molinaro of New York has introduced an amendment to the House appropriations bill that would fully fund the RRB. This amendment has garnered bipartisan support and could provide the necessary resources to stabilize the agency’s operations.

The RRB remains committed to transparency and will keep stakeholders updated on any developments.

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