https://dailycaller.com/2022/12/08/biden-billions-union-pension/
Biden To Spend Billions Of Taxpayer Dollars
Bailing Out Union
Daily Caller, by John Hugh DeMastri
Original Article
Posted By: Garnet, 12/8/2022 1:36:13 PM
President Joe Biden is set to announce a roughly $36 billion bailout for union pension plans Thursday after his calls for Congress to force rail unions to accept a new contract strained his relationship with labor groups. The Central States Pension Fund (CSPF) primarily represents more than 350,000 workers in the Teamsters Union, and was set to become insolvent by 2026, according to CNBC. The bailout is funded through the March 2021 American Rescue Plan (ARP), Biden’s signature COVID-19 relief legislation, and is intended to keep the CSPF solvent through 2051 and prevent a 60% cut to members’ retirement benefits, Bloomberg reported.