Ohio's Democrats Fighting for the Working People!
Cross posted in GD
Ohio retirees take victory lap after pension fix is included in American Rescue Plan
Democratic U.S. Sen Sherrod Brown put language in the bill that set up a new Treasury Department agency called the “Pension Rehabilitation Administration.” It will issue low-rate bonds and loan the proceeds to beleaguered multi-employer pension plans that ran into trouble when their investments took a nosedive as retirements swelled and the number of active workers paying into the plans decreased. Some of the companies that paid into the plans also went bankrupt, which increased the amount surviving companies had to pay. Coronavirus worsened the pension plans’ financial picture as more money-losing companies stopped contributing.
https://www.cleveland.com/open/2021/03/ohio-retirees-take-victory-lap-after-pension-fix-is-included-in-Americans-rescue-plan.html
Ohio Congress members introduce legislation to create a ‘manufacturing czar’
WASHINGTON, D.C. - Joe Biden’s White House will get a “Chief Manufacturing Officer” if Ohio Congress members Marcy Kaptur, Tim Ryan and Rob Portman get their way.
On Monday, the three Ohioans teamed up with a bipartisan group of legislators in both Houses of Congress to introduce legislation that would create the new White House post, as well as a new Office of Manufacturing and Industrial Innovation Policy (OMII) to help strengthen America’s manufacturing industry and workforce, improve global competitiveness following the coronavirus pandemic, and enhance research and development. Initial operations would be funded with $20 million.
The legislation is backed by an assortment of unions and manufacturing groups, and a Kaptur spokesperson said the legislation’s sponsors are optimistic it will pass because of its bipartisan backing in Congress and its support from President Joe Biden. One avenue for passage would be inclusion in the infrastructure package Biden plans to unveil in coming weeks.
https://www.cleveland.com/open/2021/03/ohio-congress-members-introduce-legislation-to-create-a-manufacturing-czar.html?outputType=amp