The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on December 09, 2022, 12:00:04 am
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Flanked by Union Allies, Biden Touts $36 Billion Pension Bailout
Story by Akayla Gardner, Jenny Leonard
(Bloomberg) -- President Joe Biden announced a $36 billion bailout for the Central States Pension Fund, one of the nation’s biggest multi-employer plans, touting the help for union workers and retirees as he looks to mend ties with organized labor after a contentious rail deal.
The money would “prevent drastic cuts to workers’ hard-earned pension benefits, cuts that have been scheduled to occur within the next few years,” Biden said at the White House on Thursday. “It’s not going to happen — the cuts are not going to occur.”
The event — where Biden was joined by International Brotherhood of Teamsters President Sean O’Brien and AFL-CIO President Liz Shuler, as well as Labor Secretary Marty Walsh — gave the president an opportunity to try to ease frictions with labor groups after he forced a contentious contract on freight-rail workers last week.
Biden said the aid would help 350,000 union workers and retirees, who would have faced benefit cuts estimated at 60% over the next few years.
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https://www.msn.com/en-us/news/politics/biden-to-announce-36-billion-for-ailing-teamsters-pension-fund/ar-AA152VEL
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It would be nice if we had a curious press that would ask were this money is gonna come from. They never seem to have any problem asking that question when it comes to cutting taxes.
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More of my money going to provide something for someone else that I, myself, do not have.
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It would be nice if we had a curious press that would ask were this money is gonna come from. They never seem to have any problem asking that question when it comes to cutting taxes.
Also to ask where the money from contributions has gone to.