On American Rescue Plan Act 3rd Anniversary, Committee Democrats Release New Interactive Map of Multiemployer Pension Rescue
WASHINGTON – Today, on the third anniversary of the American Rescue Plan Act, the House Committee on Education and the Workforce Democrats unveiled a new Multiemployer Pension Rescue interactive map. It highlights the hard-earned pensions saved and businesses protected thanks to Congressional Democrats’ and President Biden’s American Rescue Plan Act.
The multiemployer pension crisis threatened to strip more than a million retirees of the pensions they earned over a lifetime of work, jeopardized tens of thousands of businesses and endangered tens of thousands of jobs.
In response, the American Rescue Plan Act created a Special Financial Assistance (SFA) Program to avert the immediate crisis threatening the retirement security of American workers, retirees, and their families. This solution was supported by a diverse group of stakeholders, including the AFL-CIO, AARP, the United States Chamber of Commerce, UPS and scores of other employers who participate in multiemployer plans.
“For years, workers, retirees, businesses, and taxpayers had been waiting for Congress to enact a solution to the multiemployer pension crisis,” said Ranking Member Robert C. “Bobby” Scott. “Congressional Democrats and President Biden delivered a historic victory that kept the promises made to retirees, saved businesses from going under, and shielded taxpayers from the even greater cost of a multiemployer pension collapse. The Committee’s Multiemployer Pension Rescue interactive map will help illustrate the impact of this historic and transformative solution.”
To view the interactive map, click here.
To view the tracker, click here.
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