For Immediate Release
Office of the Press Secretary
August 17, 2006

President's Statement on H.R. 4, the "Pension Protection Act of 2006"

      President Bush Signs H.R. 4, the Pension Protection Act of 2006
      Fact Sheet: The Pension Protection Act of 2006: Ensuring Greater Retirement Security for American Workers

Today I have signed into law H.R. 4, the "Pension Protection Act of 2006." This legislation strengthens the pension insurance system and ensures that workers will receive better information about their pension plans. The legislation makes permanent the deductible limits for contributions to Individual Retirement Accounts and 401(k) plans, encourages employers to automatically enroll workers in 401(k) plans, and expands workers' access to investment advice.

The executive branch shall construe sections 221(a) and 1632(b)(1) of the Act, which call for the submission of legislative recommendations to the Congress, in a manner consistent with the constitutional authority of the President to supervise the unitary executive branch and to recommend for the consideration of the Congress such measures as the President shall judge necessary and expedient.

Section 1634(e) purports to require the United States Trade Representative to submit to congressional committees the contents of the negotiating positions of the United States and foreign countries in certain international trade negotiations. The executive branch shall construe section 1634(e) in a manner consistent with the President's constitutional authority to conduct the Nation's foreign affairs including negotiations with foreign countries, supervise the unitary executive branch, and to withhold information the disclosure of which could impair foreign relations, national security, the deliberative processes of the Executive, or the performance of the Executive's constitutional duties.

GEORGE W. BUSH

THE WHITE HOUSE,

August 17, 2006.

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