We are so pleased that Senator Joe Manchin from West Virginia has introduced the Prioritizing Our Workers Act. Bankruptcy laws in the country put the company over the workers. This Act seeks to revise the priorities section of the bankruptcy code to place unpaid vested benefits in pension plans at the front of the line.
“It’s wrong that when companies go bankrupt, financial institutions go to the front of the line – not the workers. My bill, the Prioritizing Our Workers Act, will change bankruptcy code to require companies to pay unpaid vested benefits like workers’ pensions before other claims.”