Posts tagged Congressional Budget Office

    Union Takes Credit For Biden Forgiving Unlimited Student Loans For Teachers — One Teacher Wrote Off $450,000

    September 12, 2022 // In a Labor Day message, union president Randi Weingarten said the union’s lobbying — which was also a leading cause of keeping schools closed due to coronavirus — was also responsible for the giveaway, which largely benefited the union’s members. The union played a role in helping elect Joe Biden. “We worked directly with the Biden administration on the latest PSLF fixes and the recent game-changing announcement on student debt cancellation.

    Congress’ Vote on Delphi Pensions Bailout Shows Problem With Putting Unions Above Law

    July 28, 2022 // Congress is set to vote this week on HR 6929 to retroactively bail out the pensions of about 20,000 former Delphi auto-parts employees who had their pensions reduced beginning in 2009. This proposed bailout, the Susan Muffley Act of 2022, is different in a number of ways from the recent no-strings-attached $97 billion bailout of about 250 select union pension plans, but it highlights the problem of lawmakers putting powerful unions above the law and requiring taxpayers to pay for their wrongdoing. Delphi Salaried Retirees Association, Bruce Gump, James Sherk, Todd Zywicki, Auto Bailout or UAW Bailout? Taxpayer Losses Came From Subsidizing Union Compensation,

    Opinion: Biden’s pension ‘guarantee’ stretches the law to bail out unions

    July 15, 2022 // “PBGC has, after this further review of the statute, additional consultation with its Board agencies [Treasury, DOL, and, Commerce], consideration of comments, and extensive actuarial modeling, determined that an alternative interpretation… is reasonable and more likely to result in the [taxpayer funds] an eligible plan receives being sufficient for the plan to pay full benefits through 2051.” There is no limiting principle on the spending of taxpayer money if agencies can disregard the law with the hope no one has the standing to obtain judicial review. PBGC’s rationale that the American Rescue Plan’s goal to keep plans going through 2051 justifies overriding the statute to change the interest rate would also justify illegally pumping additional billions into plans if they run out of money before 2051, which is exactly what President Biden “guaranteed” on Wednesday. The bailout will cover only a small fraction of the $757 billion of underfunding in the plans. More than 95 percent of the system’s 11 million participants are in plans less than 60 percent funded. Why not also ignore the law’s eligibility criteria and bailout other plans? Chevron v Natural Resources Defense Council, Majority Leader Charles Schumer

    Sanders’ pro-union budget committee hearing shows Democrats’ true agenda

    May 6, 2022 // Ranking Member Lindsey Graham’s (R-S.C.) observation during the hearing was exactly correct — under Sanders’s direction, the Senate Budget Committee has taken a dangerous and partisan turn. Instead of focusing on issues under jurisdiction, Sanders would prefer to use his chairmanship as a bully pulpit to push a pro-union agenda and target companies he dislikes for purely political reasons.

    Biden’s Proposed Davis-Bacon Act Reforms Are More Pork for Special Interests

    March 11, 2022 // “While ABC is still reviewing the 432-page rule, it appears the DOL missed an opportunity for meaningful Davis-Bacon reform. For example, the proposed rule reverts back to 1983 regulations that do not result in actual prevailing rates, as required by statute. Reversing course by 40 years is not modernization. Instead, it is even worse public policy catering to special interests embedded in the Biden administration that benefit from the broken status quo.

    Democrats might drop union bonus for electric vehicle credit

    November 16, 2021 // Neal said he’d consider a potential compromise that would allow the bonus credit for any electric vehicles assembled in the U.S., not just those subject to collective bargaining agreements. “I’d be open to something along those lines, yeah,” he said.