Internet abuzz as Joe Biden announces achieving 'major milestone' of saving 1M pensions

WASHINGTON, DC: President Joe Biden announced on Friday, June 21 that 1 million pensions have been saved under the American Rescue Plan, marking a significant achievement for his administration.

“Today, we mark a major milestone: Thanks to my American Rescue Plan, we have protected one million pensions from devastating cuts,” the president said in a statement, according to The Hill.

What is the American Rescue Plan about?

Signed into law in 2021, the American Rescue Plan included the Butch Lewis Act, which plays a crucial role in preventing cuts to millions of retirees and workers across the US.

Emphasizing the importance of safeguarding retirement benefits for workers who have dedicated decades of hard work, Biden said, “Whether it is Social Security, Medicare, or pensions, workers who earn a dignified retirement through decades of hard work and sacrifice should never see their benefits cut due to broken promises or policies that favor the wealthy over working families.”

Specific measures and impact of American Rescue Plan

Biden also highlighted specific measures taken to protect workers' pensions.

He announced plans to secure the pensions of over 103,000 workers from cuts to pensions of up to 45 percent in the Bakery, Confectionery, Tobacco Workers, and Grain Millers International Union in Pennsylvania.

The president detailed the number of people whose pensions have been saved in various states including 71,000 people in Illinois, 62,000 Ohioans, 71,000 New Yorkers, 61,000 Michiganders, 33,000 Wisconsinites, and 39,000 Missourians, having their pensions protected.

He also noted that significant protection is provided to members of major labor unions.

Over half a million Teamsters, more than 100,000 United Food and Commercial Workers, and more than 100,000 United Steelworkers and United Auto Workers’ pensions have had their pensions safeguarded.

Internet doubles down on Joe Biden announcing 1M pensions being saved from cuts

Reacting to Biden revealing 1 million pensions being saved under the American Rescue Plan, one user on X (formerly Twitter) wrote, "More on the backs of the taxpayers. yay."

"That’s amazing. Spending millions of dollars to stop something that wasn’t going to happen. I love seeing my tax dollars used for nothing," a netizen commented.

"Using tax payer money to pay for pensions that are in trouble due to entitlement programs," a user tweeted while another user wrote, "Propaganda detected."

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