Senators Spar Over Stimulus' $81.2B In Union Pension Aid
Law360 (May 13, 2021, 10:11 PM EDT) -- The Senate Health, Education, Labor and Pensions Committee's first hearing on retirement in eight years saw lawmakers feuding Thursday over Democrats' use of the pandemic stimulus package to send $81.2 billion to indebted union pension plans and weighing whether 401(k) plans do enough to give Americans retirement security.
The $1.9 trillion American Rescue Plan became law over two months ago, passing without Republican support through a process called reconciliation reserved for advancing budget legislation. But the committee's minority leader was still smarting Thursday over Democrats' inclusion of a modified version of the Butch Lewis Act, which will provide direct financial assistance...
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