EXCLUSIVE: Congress Asks Union About Blunder That Reportedly Sent About $80 Million Down The Toilet

Congress is investigating a scandal-prone major union over whether it broke the law through poor investment choices that reportedly led to $80 million in losses to members, a letter obtained by the 🏢Daily Caller News Foundation shows.

United Auto Workers (UAW) has not disclosed what happened to $340 million it used to cover strike costs in 2023 while promising to reinvest the funds, the House Education and Workforce Committee told the union in a letter scheduled to be sent Thursday. The committee is requesting documents and information on the alleged blunder, which angry UAW officials claimed cost an estimated $80 million in potential gains, according to a Reuters report cited in the letter.

Failing to reinvest the funds may have violated UAW’s fiduciary duty under the Labor-Management Reporting and Disclosure Act (LMRDA), ushered in higher dues, led to lesser strike benefits for members and made them miss out on stock market surges that followed President Donald Trump’s reelection in November, according to the letter.

“The consequences of this alleged mismanagement are significant,” wrote Republican Committee Chair Tim Walberg of Michigan and Republican Rep. Rick Allen of Georgia. The alleged conduct also neglects “statutory duty” toward members, the letter says.