Virginia Foxx: “``We turned a promise broken into a promise kept.'' That is what President Biden said to union members and retirees…”

“``We turned a promise broken into a promise kept.'' That is what President Biden said to union members and retirees about his bailout of union-run multiemployer pension plans. These plans need reform. But instead of reform, we got a bailout. Is this really a promise kept? The most recent bailout will disburse $90 billion to multiemployer pension plans. This is a short-term fix, one that fails to address the possibility of future insolvency and hurts taxpayers in the process. It seems the left would rather dump taxpayer money into a broken multiemployer pension system to appease unions than do the hard work of drafting bipartisan legislation. In fulfilling this promise to his union buddies, President Biden ignored his responsibility to safeguard American taxpayers. Mr. Speaker, last time I checked, the President serves all Americans, not just union bosses. Perhaps his memory has failed him yet again. ____________________”