Here's what GM offered to UAW as strike deadline nears

General Motors gave the United Auto Workers an offer Thursday that didn't meet what the union is looking for in a contract.

READ: UAW president calls GM's offer 'insulting proposal,'

According to GM, most employees will get a 10% wage increase, the largest in more than a decade.

Here's what's in the proposal:

All employees

Recognize Juneteenth as a paid holiday; new total of 16-18 paid holidays per year

$5,500 ratification bonus

Temporary and in-progression employees

Current entry-level in-progression employees earn a 56% wage rate increase over the contract

Current temporary employees will receive a 20% increase to $20/hr wage

Eliminate two progression steps, which reduces the time to max wage rate by 25% and provides double-digit wage increases for all in-progression employees from the beginning of the contract

Most employees (at max wage)

10% increase in wages 

Two additional 3% lump sum payments resulting in a total increase of 16%

S6,000 one-time inflation-recognition payment

$5,000 in inflation-protection bonuses over the life of the agreement (in -progression employees are eligible)

The UAW wants a 46% pay raise, a 32-hour work week with 40 hours of pay, and restoration of traditional pensions for new hires. 

UAW President Shawn Fain called the proposal "insulting" and said it "doesn’t come close to an equitable agreement for America’s autoworkers."

This is happening as only a week remains before the union's workers will strike. Fain said the UAW plans to strike against any Big Three automakers that do not reach an agreement with the union by the end of the day Sept. 14. The union has already rejected an offer from Ford, and an offer from Stellantis is expected to be provided to the UAW soon. 

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