Another reason unions support Obamacare
Katie Packer of the Workforce Fairness Institute seems to have discovered still yet another reason the union are so wildly enthusiastic about Obamacare, even though many unions have gouged employers for extravagant health benefits.
They'll get even more money!
Kevin Mooney of the Washington Examiner reports
Union bosses who have mismanaged benefits for their own members are poised to receive a $10 billion bailout from U.S. taxpayers in the form of a "reinsurance program" that has been folded into the healthcare bill, according to the Workforce Fairness Institute (WFI).
This provision should be viewed as part of a larger payback effort the Obama White House and top congressional figures have set up in exchange for the support they have received from organized labor, Katie Packer, executive director of WFI said.
Section 164 of the Affordable Health Choices Act of 2009 provides that the government pay 80 cents on the dollar to corporate and union insurance plans for claims between $15,000 and $90,000 for retirees age 55 to 64. Union health insurance funds only have about 30 cents available to cover each dollar of anticipated claims, according to the Lewin Group and other research outfits.
Oh, and not so by the way
In the 2008 election cycle, labor union political action committees (PACS) contributed over $66 million dollars to congressional candidates with 92 percent of those contributions going to Democrats, according to OpenSecrets.org.
President Obama received almost $28 million in independent expenditures from the Service Employees International Union (SEIU) for his 2008 campaign, while Labor Secretary Hilda Solis received $10,000 from the SEIU's PAC for her congressional race.
SEIU has been a leading proponent of Card Check and binding arbitration.