A plan that stabilized and saved the pensions of millions of Americans passed with no support from Wisconsin Republicans.
If you are fortunate enough to have an employer-sponsored pension plan, you understand how it works. Every pay period part of your paycheck gets invested to be paid out at a later date rather than sent directly to you. For generations, pensions have been an essential part of economic security for working Americans.
Unfortunately, mismanagement of scores of multi-employer pension plans put millions of American workers pensions at risk over the last decade. That mismanagement nearly led to a crisis for older Americans who—through no fault of their own, having paid into a benefit system during their lifetime of work—suddenly faced the prospect of not even getting the money they paid into their pension back.
Thankfully, Wisconsin Sen. Tammy Baldwin (D) was able to get the Butch Lewis Emergency Pension Plan Relief Act included in the American Rescue Plan signed into law by President Joe Biden last year. As a result, more than 20,000 Wisconsin workers are still able to rely on their pensions today.
This plan, that stabilized and saved the pensions of millions of Americans and 22,500 Wisconsinites, was voted for by every Democratic member of Congress from Wisconsin.
Sen. Ron Johnson and every other Wisconsin Republican in Congress voted against the bill.