Biden highlights efforts to save union pensions |

(Jul 6, 2022)

SUMMARY OF RESTRICTIONS:

AMERICAN NETWORK POOL

Cleveland, Ohio – July 6, 2022

1. SOUNDBITE: (In English) Joe Biden, President of the United States:

“And folks, I’m here today to talk about the issue that affects every American and their retirement. People across the country wake up every day wondering if they’ve saved enough to support themselves and those of their family before they quit working.”

++WHITE FLASH++

2. SOUNDBITE: (In English) Joe Biden, President of the United States:

“We fought for the Butch Lewis Act to protect the pensions of millions of workers and retirees. As a presidential candidate, I advocated for its passage and promised that once passed, I would sign it. And that’s the promise I kept, when I included the Butch Lewis Act in the US bailout. From now on, multi-employee plans will remain solvent for decades and will come at least until that they are guaranteed until 2051.

ANNOTATION: “About 200 pension plans facing possible insolvency will receive federal aid. A final rule tied to Biden’s $1.9 trillion coronavirus relief package allows struggling multi-company pensions to be financially The change will allow full benefits for 2 million to 3 million workers and retirees.

++WHITE FLASH++

3. SOUNDBITE: (In English) Joe Biden, President of the United States:

“But with Social Security benefits, that pension will allow you to live a good middle-class life in retirement. To some, my dad would say, really just a bit of peace of mind.”

++WHITE FLASH++

4. SOUNDBITE: (In English) Joe Biden, President of the United States:

These pensioners, these pensioners who have lost their benefits, will find them retroactively. We’ve turned a broken promise into a kept promise.”

++END ON SOUNDBITE++

SCRIPT:

US President Joe Biden sought to reassure frustrated blue-collar voters in Ohio by highlighting federal action to shore up struggling pension funding for millions of people currently working or retired.

Biden spoke at a high school in Cleveland, presenting a final rule related to his $1.9 trillion coronavirus relief package from last year.

The rule allows multi-company pensions in difficulty to be financially complete, guaranteeing full benefits to 2 to 3 million workers and pensioners.

The president has been politically affected by high inflation and the damage caused by the pandemic. He chose to deliver his message in a state with a strong Republican leaning, Donald Trump easily carrying it twice.

This is Biden’s sixth visit as president as he personally strives to turn this election tide.

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Robert M. Larson