(6 Jul 2022)
RESTRICTION SUMMARY:
US NETWORK POOL
Cleveland, Ohio - 6 July 2022
1. SOUNDBITE: (English) Joe Biden, U.S. President:
"And folks, I'm here today to talk about the issue that affects every single American and their retirement. People around the country wake up every day wondering whether they've saved enough to provide for themselves and their families before they stop working."
++WHITE FLASH++
2. SOUNDBITE: (English) Joe Biden, U.S. President:
"We fought for the Butch Lewis Act to protect pensions for millions of workers and retirees. As candidate for president, I argued for its passage and promised when it passed, I would sign it. And that's the promise I've kept, when I included the Butch Lewis Act in the American Rescue Plan. Now, multi-employee plans will remain solvent for decades and come at least until guaranteed to 2051.
ANNOTATION: "Approximately 200 pension plans that faced possible insolvency will get federal assistance. A final rule tied to Biden's $1.9 trillion coronavirus relief package allows troubled multi-company pensions to be made financially whole. The change will enable full benefits for 2 million to 3 million workers and retirees."
++WHITE FLASH++
3. SOUNDBITE: (English) Joe Biden, U.S. President:
"But together with Social Security benefits, that pension will continue you a good middle class life for you in retirement. For some, just my dad would say, really just a little peace of mind."
++WHITE FLASH++
4. SOUNDBITE: (English) Joe Biden, U.S. President:
These retirees, those retirees who lost their benefits, will have them restored retroactively. We turned a promise broken into, a promise kept."
++ENDS ON SOUNDBITE++
STORYLINE:
U.S. President Joe Biden sought to reassure frustrated blue-collar voters in Ohio by highlighting federal action to shore up troubled pension funding for millions now on the job or retired.
Biden spoke at a Cleveland high school, showcasing a final rule tied to his $1.9 trillion coronavirus relief package from last year.
The rule allows troubled multi-company pensions to be made financially whole, ensuring full benefits for 2 million to 3 million workers and retirees.
The president has been hurt politically by high inflation and damage caused by the pandemic. He chose to deliver his message in a state that has been trending strongly Republican, with Donald Trump easily carrying it twice.

This is Biden's sixth visit as president as he labors to personally reverse that electoral tide.

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