Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

PAYOFF? Biden Set to Announce $36 Billion “Bailout” for Union Pension Funds

by December 8, 2022
December 8, 2022
PAYOFF? Biden Set to Announce $36 Billion “Bailout” for Union Pension Funds

Why do unions vote for Democrats?

Union members are more aligned with the Republican Party on a host of social and cultural and economic issues.

Is it because Democrats have bought them off with taxpayer money?

Recently, Joe Biden angered unions after signing legislation that prevented a nationwide rail strike.

Now, he is set to announce a $36 billion bailout for the Central States Pension Fund – one of the nation’s biggest multiemployer plans.

Bloomberg reported:

President Joe Biden will announce a $36 billion bailout for the Central States Pension Fund, helping to shore up one of the nation’s biggest multiemployer plans and delivering help to union allies after a contentious rail deal that frayed ties with organized labor.

Biden will be joined by International Brotherhood of Teamsters President Sean O’Brien, AFL-CIO President Liz Shuler and Labor Secretary Marty Walsh at an event Thursday to promote the aid, according to a White House statement, which called the assistance “the largest ever award of federal financial support for worker and retiree pension security” and the largest from a program created by Biden’s pandemic relief law, the American Rescue Plan.

The president angered some of his labor allies last week by signing legislation imposing a contract he personally helped to negotiate between freight railroads and their unions, averting a possible strike that threatened to cripple the economy. Rank-and-file union workers, however, opposed the deal. Four of the 12 unions involved in the negotiations — representing roughly 54,500 workers — rejected the contract.

The pension fund has been spending $2 billion more each year than it takes in.

The Washington Times reported:

The Central States Pension Fund has $7.4 billion in assets, according to its most recent quarterly financial report. It is spending more than $2 billion per year more than it is taking in from contributions.

Like other ailing pension funds, Central States has been plagued with a variety of problems. Rising costs, a weaker stock market and a drop in the number of active workers participating in the fund have crippled its revenue.

A payoff for votes?

For the antidote to media bias, check out ProTrumpNews.com…

The post PAYOFF? Biden Set to Announce $36 Billion “Bailout” for Union Pension Funds appeared first on The Gateway Pundit.

0
FacebookTwitterGoogle +Pinterest
previous post
“Brittney is An Inspiration to Millions of Americans, Particularly the LGBTQ Americans” – KJP Defends Brittney Griner Swap for “Merchant of Death” (VIDEO)
next post
Joe Biden Turns His Back on Reporters, Ignores Questions About the Griner Swap For “Merchant of Death” (VIDEO)

You may also like

Sharon Osbourne Wants Her $900,000 BLM Donation Back After...

October 7, 2022

SICK: Mattel’s “American Girl” Publishes Book Pushing Puberty...

December 8, 2022

Hunter Biden’s ‘sugar brother’ goes scorched Earth on...

January 20, 2024

Hezbollah rocket attack on Israel hits Haifa for...

October 7, 2024

Sen Ron Johnson suggests he may not run...

May 29, 2025

Elon Musk Announces Trump Will Be Reinstated On...

November 20, 2022

Trump appoints Dr. Oz to key HHS position...

November 19, 2024

Woman Dies Suddenly Inside the Pharmacy 15 Minutes After...

September 24, 2022

Supreme Court to hear Title 42 oral arguments...

January 6, 2023

Scoop: Key conservative caucus draws red line on...

January 30, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • IVF parents should have right to paid fertility leave, says GMB union

      June 9, 2025
    • Reform UK clashes with Bank of England over interest payments to lenders

      June 9, 2025
    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025
    • Obama WH physician says Biden doc should have performed cognitive test

      June 8, 2025
    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025

    Categories

    • Business (8,154)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved