Biden to discuss $86 billion for certain retirement plans

The American Rescue Plan is best known for its $1,400 stimulus checks, expanding the Child Tax Credit, aid to local governments, and more recently, possibly contributing to inflation. But a lesser known portion of the massive bill sent $86 billion to help many financially troubled retirement plans. President Biden is attempting to highlight that controversial provision Wednesday, appearing at a Cleveland high school to tout the American Rescue Plan’s Special Financial Assistance program, which is meant to shore up troubled multi-employer pension plans across the country, including Ohio, where many unionized workers entered into the plans only to see them quickly veer towards insolvency.

Yahoo Finance