Biden: Big Three Auto Makers Should Share Profits With Workers

On Friday, President Joe Biden made some comments about the UAW strike. Biden said that no one wanted to see a strike but added that it was well within the workers’ rights to do so. Biden also added that the Big 3 auto makers had record profits and that they should be sharing them with the workers.

Last night, after negotiations broke down, the UAW announced a targeted strike at a few Big 3 auto plants.

Let’s be clear: No one wants a strike. Say it again: No one wants a strike. But I respect workers’ right to use their options under the collective bargaining system. And I understand the workers’ frustration.

Over generations, auto workers sacrificed so much to keep the industry alive and strong, especially through the economic crisis and the pandemic. Workers deserve a fair share of the benefits they helped create for an enterprise.

I do appreciate that the parties have been working around the clock. I’ve — and when I first called them at the very first day of the negotiation, I said, “Please stay at the table as long as you can to try to work this out.” And the — they’ve been around the clock, and the companies have made some significant offers.

But I believe they should go further to ensure record corporate profits mean record contracts for the UAW.

I’m going to say that again: Record corporate profits — which they have — should be shared by record contracts for the UAW.

And just as we’re building an economy of the future, we need labor agreements for the future.

Indeed, all CEOs and corporations – whether it be the Big 3, the Hollywood studios, Amazon, or any other – as well as anti-union Republicans should keep in mind what the original Republican, Abraham Lincoln, had to say about labor:

“Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.”


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