Senate majority leader Mitch McConnell joined a bipartisan group of senators on ...
WASHINGTON - Senate majority leader Mitch McConnell joined a bipartisan group of senators on Wednesday in introducing a bill to secure the pensions for nearly 90,000 retired coal miners as a recent wave of coal company bankruptcies threatens the solvency of the federal pension fund.
The Bipartisan American Miners Act, co-sponsored by McConnell, of Kentucky, and West Virginia Senators Joe Manchin, a Democrat, and Shelly Moore Capito, a Republican, would transfer funds from the federal abandoned mine lands program to avert insolvency of the United Mineworkers of America pension plan.A bankruptcy filing last week by one of the largest coal mining companies, Murray Energy, was expected to hasten the insolvency of the pension fund - estimated to occur by 2022.
If passed, the bill would secure the pensions of around 92,000 retired and working coal miners and ensure health care for 12,000 retirees.
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