WASHINGTON — The top Democrat on a House panel that plans to hold a hearing Wednesday on “State and Municipal Debt: The Coming Crisis,” believes states and localities need to reform their pension systems, but is uncertain about whether states in severe fiscal distress should be permitted to file for bankruptcy protection.
In an interview Monday, Rep. Mike Quigley, D-Ill., the ranking minority member of the TARP and financial services subcommittee of the House Oversight and Government Reform Committee, talked about his concerns and what he hopes to learn from witnesses scheduled to testify at the panel’s hearing.
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