Getting Out the ARP Vote

Democrats on the House Committee on Education and Labor launched a web-based tool today to track pension plans receiving assistance under a federal bailout program enacted last year.

From the press release:

To date, the Pension Benefit Guaranty Corporation has approved five applications from plans based in New York, New Jersey, and Oregon that were either already insolvent or projected to run out of money this year. As of today, the SFA program has saved 8,088 pensions and protected an estimated 170 businesses – with many more applications to be approved in the coming months.

For years, workers, retirees, businesses, and taxpayers have been waiting for Congress to enact a solution to the multiemployer pension crisis,” said Chairman Robert C. “Bobby” Scott. “Congressional Democrats and President Biden delivered a historic victory that keeps the promises made to retirees, saves businesses from going under, and shields taxpayers from the even greater cost of a multiemployer pension collapse. The Committee’s Multiemployer Pension Rescue Tracker will help illustrate the impact of this transformative solution.”

Kind of reminds me of those vote tracking systems we will next see in this year’s mid-term elections.

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