Where the hell was my Pension fund bailout?? Our USWA 2401 Pension was Bankrupted while Obummer was President and went into the Pension Guarentee Corporation.
The only possible argument for what is being done is that if the pensions are allowed to fail, which they will if no action is taken, they will end up the responsibility of the PBGC. That will cause the PBGC to fail, which means taxpayers will be on the hook at that stage. The best explanation of what is being done is a short cutting of the normal federal government expenditure process. Biden got a slush fund created in his Build Back America scheme and he is releasing funds from that source to resolve this. The crime in it is not the transfer of funds, but the fact that the decision to do so was not by explicit legislation where Representatives and Senators would have to stand and be counted on this issue. More of the “never let a good crisis go to waste” manner of governing.
Reps Turner and Tenney lead House Republicans in urging immediate passage of bipartisan Susan Muffley Act
https://turner.house.gov/press-releases?ID=C01BA6F2-0268-43B0-B42A-D24F5DA569E2