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It was pretty poorly thought out concept no plan for a reduction in workforce, bankruptcy by companies.
This is wide spread for both public and private pensions, the joke about the big three car companies is they are pension plans that own car companies and that is not too far from the truth. You asked what about the others, the others don't have a 2.5 billion dollar fund to dip into.
This is why Trump is afraid to debate. Because he uses taxpayer dollars to BUY VOTES from farmers and coal miners. If a presidential candidate confronted him about that and all the other lies he's told, he would melt like the Wicked Witch of the West.
And this is what is so disgusting about Trump supporters. They are the biggest liars in the world. They don't oppose socialism. They love it when they are the ones benefitting. Thank goodness Trump is old, fat and won't be around forever. A reckoning is coming. People are seeing what liars his supporters are.
I'm a Trump supporter, and an honest person. I oppose Socialism. I don't benefit from Socialism. I agree with you that NO private pension should be bailed out by ANY government entity. I also feel that NO government pension should be bailed out by taxpayers either. If the Illinois pensions fails, it fails. I don't want to see the Feds bail it out.
They are transferring funds out of the AML fund for this. That fund is a fee assessed on active coal mines that is supposed to be used for reclaiming abandoned mining sites that include many types of abandoned mines. Not a great example but that gold mine debacle in Colorado a few years back would of been primarily funded by this program.
No they wouldn't be. This is not general funding and this fund is quite unique. I'm not sure there is an example in any industry that is comparable.
Not true.
The $1.4 trillion spending bill passed by Congress last week quietly achieves what a parade of select committees and coordinating councils could not: rescue a dying pension fund that is the lifeblood of nearly 100,000 retired coal miners.
You can repeat that all you want, the transfer is from the AML fund which once again is entirely funded by the coal industry.
It is NOT entirely funded by the coal industry. We are transferring the maximum of $750 million a year of taxpayer money into the fund.
How Taxpayers Will Now Help Pay Miners’ Pensions
When the mine workers’ retiree health plan ran out of money in 1989, Congress arranged for new funding sources, including the Abandoned Mine Lands Reclamation Fund and, later, the Treasury. That precedent is now being followed for the miners’ pensions. Starting next year, the Treasury’s transfers to the Abandoned Mine Lands fund will rise to a maximum $750 million a year, and will help pay for pensions as well as retiree health care. This may prompt other unions to seek federal assistance for their plans, too.
locks up coal country/Rust Belt for Trump next fall. Dems had no problem with it.
Smart move, Mr. President.
Everything Trump does is a 'smart move' to you. If he gave a trillion dollars to North Korea, you'd say 'smart move, Mr. President'.
Have you ever said anything different? Of course not.
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