Government Intervention in Coal Mining Seven Decades Ago No Justification for Pension Bailout Today

Two bills introduced in Congress would bail out the United Mine Workers of America (UMWA) pension plan with up to $490 million per year. Such action would set an incredibly dangerous precedent, opening the door to taxpayer bailouts of other unfunded pension liabilities across the country. The government facilitated a temporary agreement in 1946 that established the UMWA’s health and welfare program, but specified that the plan funding was solely the responsibility of the union and the fund trustees.

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