Good Morning DC,
January 6th Committee will hold a new hearing on July 12 at 10 am.
Fang Fang is trending again after a social media spat between Eric Swalwell and Lauren Boebert.
Every day is the news days in Washington DC.
Your top news stories of today are below.
THE WHITE HOUSE
President Biden is traveling to Cleveland, Ohio, today to discuss the American Rescue Plan. He will meet with the union workers and retirees to announce the final rule for American Rescue Plan’s Special Financial Assistance Program.
According to the White House, American workers can expect more protections in multiemployer pension plans which are created through agreements between employers and a union. The Special Financial Assistance Program will provide financial relief to struggling multiemployer pension plans and ensure that those facing benefit cuts will receive the full benefits they earned.
The Pavlovic Today has obtained some details the White House wants you to know about Biden’s speech in Cleveland today.
- Over 200 multiemployer plans were on pace to become insolvent in the near term because their investments struggled during economic crises. That would result in two to three million workers who paid into these pension funds seeing their benefits cut in retirement.
- Because of the American Rescue Plan, every multiemployer pension plan that faced near-term insolvency and benefit cuts and that receives Special Financial Assistance is projected to remain solvent through 2051, and many of them for much longer.
- Two to three million workers and retirees who would have faced dramatic cuts to their pensions will receive the benefits they paid into and depended on for their retirement security, and previous cuts to their pensions will be reversed.
- The President is strengthening families’ retirement savings, while Republican Members of Congress — led by Senator Rick Scott — want to threaten them by putting Social Security on the chopping block every five years.
- The President will be joined by Secretary of Labor Marty Walsh, Senator Sherrod Brown, ARP Coordinator Gene Sperling, and Cleveland Mayor Justin Bibb, as well as Rep. Shantel Brown and Rep. Marcy Kaptur.
President Biden has read the letter Brittney Griner sent to him. The White House believes that Griner is being “wrongfully detained” in Moscow and that it is the President’s priority to get her back.
Karine Jean-Pierre said that Griner spoke with National Security Advisor Jake Sullivan on Saturday. “That is their second call in the past about 10 days that they have spoken. Secretary Blinken also spoke with Mrs. Griner as well recently,” revealed Jean-Pierre.
DIGITAL ASSETS
The FED’s Inaugural Conference on the International Roles of the US Dollar hosted a panel addressing digital assets and central bank digital currencies (CBDCs).
According to the FED, the development of CBDCs is not seen as a “threat to the US dollar’s international status” but the panelists did not see an immediate need for CBDCs.
FOREIGN AFFAIRS
Boris Johnson’s government is running on borrowed time. Ten Conservatives so far have resigned, including Sajid David and Rishi Sunak. Nadhim Zahawi has been named a new Chancellor and Steve Barclay as Health Secretary.
Secretary Blinken will be traveling to Bali, Indonesia, to attend the G20 foreign ministers’ meeting. At G20, Blinken will meet with the Foreign Minister of China, Wang Yi. The objective of the meeting is to “open lines of communication”, according to Daniel Kritenbrink of the State Department. Kritenbrink also said that the US would “convey expectations about what we would expect China to do and not to do” regarding Ukraine.
“Our bilateral relationship with the PRC is complex,” said Ned Price. “It is a relationship that is at times competitive, is at times adversarial, is at times cooperative. And that is why continued engagement and dialogue is profoundly in our interest to establish and to reinforce those guardrails so that competition doesn’t veer into conflict.”
Blinken will not have any bilateral engagement with Foreign Minister Lavrov at G20, the State Department has confirmed.
After G20, Blinken will travel to Bangkok. The Secretary’s travel to Thailand was postponed at the last minute last December.
Secretary Blinked announced Richard Nephew as the coordinator on global anti-corruption.
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