Coronavirus Relief Bill Includes $86 Billion Bailout for Union Pensions
President Biden’s recently passed $1.9 COVID relief package has more than just $1,400 check for most Americans, with Democrats quietly adding $86 billion in funding to bailout union negotiation pensions.
From Just the News:
The American Rescue Plan legislation, which reflects the Biden stimulus plan unveiled in January, includes $86 billion for struggling union-managed pensions. Ahead of the Biden inauguration, the International Brotherhood of Teamsters was pressuring Democrats to provide the pension funding.
But the funding for unions has received harsh pushback, with critics saying the relief is a taxpayer funded bailout of pensions that have faced years of “mismanagement” from private unions:
“Democrats think they smell an opening they have wanted for years, to make Uncle Sam bail out decades of mismanagement and broken policies in places like New York, New Jersey and California,” Senate Majority Leader Mitch McConnell had said.
Perhaps adding insult to injury, Democrats had assured voters for months that a bailout of unions was not in the cards in COVID relief negotiations:
New York Democratic Sen. Kirsten Gillibrand told Just the News at the time that the Democrats’ call for more stimulus spending had “nothing to do with unions.”
Fast-forward to the Democrats’ $1.9 trillion American Rescue Plan passed by the House Wednesday, which allocates $86 billion to bail out union-managed pensions. The bill also includes a mammoth $350 billion federal taxpayer outlay for state and local governments.
Not surprisingly, union bosses hailed the inclusion of the bailout as a major success:
“This is a historic rescue package,” the union said in a statement, touting the bill for providing “funding to shore up multi-employer pension plans, protecting earned retirement benefits for millions of hard-working Americans.”
Biden’s massive $1.9 trillion COVID relief bill was pushed through the Senate via the budget reconciliation process last week and approved by the House of Representatives Wednesday. Biden signed the bill into law Thursday, celebrating it as a win for the middle class.
“This historic legislation is about rebuilding the backbone of this country,” Biden said before signing the legislation. “And giving people in this nation, working people, middle class folks, the people who built this country, a fighting chance.”
In addition to stimulus checks and union bailouts, the relief legislation will send billions to state and local governments that have seen massive budget shortfalls throughout the pandemic. The bill also directs funding to vaccination efforts, an expansion of the childcare tax credit, and the continuation of increased unemployment benefits.
Don’t miss The Dan Bongino Show