In the News

U.S. Rep. Richard E. Neal joined President Joe Biden and Labor Secretary Marty Walsh Wednesday on Air Force One on a trip to Cleveland touting the $1.9 trillion American Rescue Plan Act and its protection of pension plans.

The Butch Lewis Act was the first piece of legislation introduced by the Springfield Democrat as chairman of the House Committee on Ways and Means. It stabilizes multiemployer pension plans benefiting union workers in transportation, construction, entertainment and other industries.

Around 200 of these plans, with 2 million to 3 million participants, were in danger of becoming insolvent due to factors outside the plans’ control such as deregulation of the trucking industry. The law can bail out pensions and restore full benefits for up to 30 years.

“Saving these endangered multiemployer pension plans is just another way you build an economy from the bottom up,” Neal said. “Already, thousands of pensions have been saved from our financial assistance, and this number will only continue to grow as the Biden administration continues implementing this fix.”

On Wednesday, the Biden administration announced the final rule in the program’s implementation. Eleven million Americans total are part of multiemployer pension plans.

Biden repeatedly praised Neal.

“He is, as my uncle would say, ‘He is union from belt buckle to shoe sole,’ man,” Biden said. “Richie Neal is not only a strong, strong union supporter and been great a supporter of this legislation, but he is chairman of the most powerful committee in the United States Congress, the House Ways and Means Committee, the guys with the money. ... And he’s led on labor issues for decades.”

Neal returned the compliments.

“In President Biden’s time in office, the unemployment rate has been cut in half — 15 states have record low unemployment — and the number of people needing unemployment benefits is down over 90%,” Neal said. “He turned an economy in crisis into the best economy for American workers in decades in a matter of months.”