AN $86 BILLION MORAL HAZARD
Apr 22, 2021
3 minutes
ERIC BOEHM
THE $1.9 TRILLION emergency spending bill Congress passed in early March was full of items that had little to do with the COVID-19 pandemic, the ostensible justification for the package. Perhaps the most indefensible provision was an $86 billion bailout for unions’ private pension funds. This unprecedented handout could pave the way for a much more expensive bailout of public-sector pensions.
The American Rescue Plan Act creates
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