Yet Another Union Bailout: $165 billion

The Congress and the White House have worked together to give union bosses bailouts and handouts to the extent we have never seen.  But there appears to be no end in sight.

Sen. Bob Casey (D-PA) has introduced legislation for taxpayers to bailout troubled union pension funds, legislation that will cost taxpayers another $165 billion.  Perhaps rather than spending a billion dollars a year in political ads and campaigns, the money would be better suited to ensure union workers retirement funds are secure.

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The Taxpayer Funded Union Pension Bailout

Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis.  Senator Bob Casey, Pennsylvania Democrat, introduced the so-called Create Jobs & Save Benefits Act of 2010 to address the funding problems faced by union-administered multi-employer pension plans by shifting the burden to the taxpayers.  Casey said his bill would cost the taxpayers $8 to $10 billion.

Bailouts are a bipartisan affair.  Senator Casey’s bill is similar to the bill, H.R. 3936, in the U.S. House sponsored by Earl Pomeroy (D-ND) and Patrick Tiberi (R-Ohio).