Another Band-Aide To The Union Pension Crisis?

by Phillip Wilson | Jul 26, 2018 | News

Sen. Sherrod Brown (D-OH) introduced the Butch-Lewis Act

Big Labor leaders and Democrats are still trying to use taxpayer-funded means of salvaging soon-insolvent union multi-employer pension plans. They are finding it a hard sell even to their in-house crowd. The proposed Butch-Lewis Act of 2017 would create a new agency within the Department of Treasury which would sell bonds to private investors, then use that investment to provide 30-year loans to the underfunded or currently insolvent pension plans. Using debt to fund debt isn’t a convincing way out of the union pension quagmire.