The UMWA is no stranger to bankruptcy. 50 coal companies have filed bankruptcy since 2012 and workers and their families continue to pay the price for poor corporate decision-making and governmental actions. . Bankruptcy Laws in America put banks and wall street hedge funds first and worker last. Working families often lose, while top management get to keep their jobs and receive millions of dollars in bonuses.
This is why Senator Joe Manchin (D-WV) has introduced the Prioritizing Our Workers Act. This legislation will make changes to the current bankruptcy code, requiring companies going through bankruptcy proceedings to pay unpaid vested benefits before they payout other claims against them.
Click here to read the full bill text.