Biden announced a law to travel to Ohio to protect the pension, to comment on the economy

President Joe Biden will travel to Ohio on Wednesday to address the economy, and FOX Business is expected to announce legislation to protect millions of workers, who have suffered significant setbacks in their pensions.

The president is expected to be joined by Labor Secretary Marty Walsh, Senator Sherod Brown, De Ohio, ARP Co-ordinator Jean Sparling and Cleveland Mayor Justin Bibi. Democrat Chantel Brown and Marcy Captour are expected to address the president.

As part of the comment, Biden will announce the new law — the latest in a series of special financial assistance programs such as the U.S. Rescue Plan.

A White House official has warned that more than 200 multidisciplinary plans will soon be nullified as their investments struggle during the economic crisis – which will pay between two and three million workers a pension fund. Seeing their benefits diminish during retirement.

Preparation of the Inflation Timeline Map of the BD ADM Rapid Growth Response Map

The official said that the Biden administration’s pension plan, which was at risk of bankruptcy, would now remain in place until at least 2051.

As part of the comment, Biden will announce the new law — the latest in a series of special financial assistance programs such as the U.S. Rescue Plan. ((Photo by Timothy A. Clary-Pool / Getty Images) / Getty Images)

“The president is strengthening family retirement savings, and members of the Republican Congress – led by Senator Rick Scott – want to threaten by setting up a social security system every five years,” he said.

In recent economic talks, White House and White House officials have repeatedly criticized Scott, R-Fla., For proposing income tax on Americans.

Scott said earlier this year in his plan that “all Americans must pay a certain income tax to have leather in the game, even if they have a small amount.” “Currently, more than half of Americans do not pay income tax.

After his release in the spring, Scott’s plan was met with strong criticism from Democrats and pressure from some Republicans.

Senate Majority Leader Mick McConnell, R-K, shut down Scott’s proposal, saying Republicans “will not have a bill that would increase taxes on half of the American population and eliminate social security and Medicare as part of our agenda.”

The White House has hit back at Rick Scott’s ads, saying, ‘Inflation is exploiting the working family.’

A senior Republican source told Fox News:

Scott has updated his plan to become a “12-point plan to save America.” Scott’s website now says the plan “reduces taxes.”

Senator Rick Scott, R-Fla., Spoke to reporters after the Republican Strategic Meeting at the Capitol in Washington, DC. (AP Photo / J. Scott Applewhite / AP Newsroom)

“There is nothing in this plan that would support or offer any tax increase,” Scott said in a statement.

Biden’s comments in Ohio come as the country struggles with inflation at 8.6% – the highest level in more than 40 years.

Last month, Department of Labor figures showed rapid inflation since December 1981.

The Department of Labor reported inflation last month, with energy prices rising by 3.9% in May and 34.6% last year. Gasoline averaged 48.7 percent more than a year ago and 7.8 percent in April. Overall, oil prices rose 16.9% month-on-month in May, pushing the one-year increase to a staggering 106.7%.

Another alarming sign is that housing costs – which cover one-third of the CPI – accelerated in May and rose 0.6 percent. It has recorded the fastest one-month profit since 2004. Accommodation costs have increased by 5.5% annually, the fastest since February 1991.

One person shoots at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans support the rising cost of inflation. ((Photo by Jim Watson / AFP by Getty Images) / Getty Images)

Food prices rose 10.1% year-on-year and 1.2% per month, with significant increases in dairy and related products (2.9%, highest monthly increase since July 2007), non-alcoholic beverages (1.7%), cereals and baked goods (1.5%) And meat, poultry, fish and eggs (1.1%).

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Warm inflation has put a strain on most American households, forcing them to pay for daily necessities such as food, fuel, and rent. The burden is borne by disproportionately low-income Americans, and their already extended wages have a significant impact on inflation.

Biden, however, said that fighting inflation was his “economic priority.”

The Department of Labor is set to release inflation on Friday, June.