Wood Radio: Michigan Congressman looking into possible mismanagement of UAW funds

What happened to 80 million dollars? That is the question a U.S. Congressional Committee on Education and Workforce is asking the UAW. Congressman Tim Walberg whose congressional district covers the southern portion of our state is Chairman of the committee. 

In a letter he asks UAW President Shawn Fain to account for 80 million dollars in union funds. In 2024 the UAW cashed in some stocks to the tune of about 340-million- dollars to help fund strike benefits. As it turns out they didn’t need that much money, leaving about 80 million on the books. They were supposed to take that money and reinvest it but to date that hasn’t happened.

In the letter it states; “The Committee seeks to understand the accuracy of these allegations and whether the alleged conduct suggests a need for reforms…” The letter goes on to say the consequences of this alleged mismanagement are significant. And could result in higher dues for union members.