UPDATE: McConnell backs bill to preserve coal miners pensions

Senate Majority Leader Mitch McConnell of Kentucky has thrown his support behind a bill that will preserve pensions for 92,000 retired coal miners and their families.

McConnell’s backing was seen by some as the last step to secure the funding that will be taken from the Abandoned Mined Land Fund to keep the pension accounts from going insolvent by 2022.

“…And we owe it at least to give them the money back that they paid into it. Not taxpayer money but the money they paid into it. Don’t let somebody steal it. Wall Street doesn’t have a right to that money,” said bill co-sponsor West Virginia Senator Joe Manchin.

(PHOTO: United Mine Workers of America)