Biden's Pro-Worker Legacy: Expanding Social Security and Blocking U.S. Steel-Nippon Deal

In early January, President Joe Biden concluded what many consider the most pro-worker administration in history by acting on two fronts that will significantly impact Steelworker members and retirees for years to come. On January 5, Biden signed the Social Security Fairness Act (H.R. 82) into law, expanding Social Security benefits for millions of public sector workers and their families. Additionally, after a year-long campaign by the United Steelworkers (USW) union, Biden blocked the proposed acquisition of U.S. Steel by Japan's Nippon Steel.

Expanding Social Security Benefits

The Social Security Fairness Act, passed with large bipartisan majorities in the U.S. House (327 to 75) and Senate (76 to 20), eliminates the unjust Government Pension Offset (GPO) and Windfall Elimination Provision (WEP). These policies disproportionately affected public sector workers, such as teachers, firefighters, nurses, postal workers, and police officers, who often did not pay into Social Security during their careers. By eliminating GPO and WEP, H.R. 82 will lead to an average monthly benefit increase of $360 for these frontline workers, ensuring a dignified retirement for more than three million people and their surviving family members.

President Biden stated, "The bill I'm signing today is about a simple proposition: Americans who have worked hard all their lives to earn an honest living should be able to retire with economic security and dignity."

Blocking the U.S. Steel-Nippon Deal

After a year-long campaign by the USW union to educate lawmakers, stakeholders, and the public about the potential drawbacks of the proposed sale of U.S. Steel to Nippon, President Biden acted on USW members' behalf and blocked the deal. In a statement following Biden's action, USW International President David McCall said:

"Throughout the past year, as the proposed transaction was under review, our union’s first and only concern has been the long-term viability of our facilities as we look to ensure a strong domestic steel industry well into the future. Nippon has proven itself to be a serial trade cheater that for decades worked to undermine our domestic industry by dumping its products into our market. Allowing it to purchase U.S. Steel would have offered it the opportunity to further destabilize our trade system from within and in the process, compromise our ability to meet our own national security and critical infrastructure needs."

The USW also commended President-elect Donald Trump for his continued opposition to Nippon Steel's acquisition of U.S. Steel, expressing its commitment to working with any administration that shares its commitment to sustaining a thriving, domestically owned and operated steel industry.

In conclusion, President Biden's actions in expanding Social Security benefits and blocking the U.S. Steel-Nippon deal demonstrate his commitment to protecting and improving the economic security and retirement prospects of American workers, particularly those in the steel industry. These decisions align with his broader economic and national security objectives, ensuring a strong and resilient domestic steel industry and supporting healthy communities.