Proposed legislation to beef up the pensions of retired American miners is proving to be a tricky bill to pass, writes Ben Wolfgang for the Washington Times.
The bill, American Miners Pension Act, is “aimed at ensuring the pensions of 87,000 retired union miners — and another 20,000 who will retire in the coming years — don’t go belly up,” writes Wolfgang, adding it’s “the latest attempt to secure the financial future of miners and comes on the heels of Congress acting late last year to preserve health care benefits for workers and their families.”
To bolster the pensions of miners, funds would be transferred from the federal Abandoned Mine Land program into pensions, and the bill “would direct the Treasury Department to lend the pension plans up to $600 million each year with an interest rate of 1 percent, and the pension funds would pay back only interest for the first decade,” he continues.
More: Lawmakers have little incentive to act now.

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