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Negotiators Still Divided on Pensions Bill
Forbes.com, July 27th, 2006
With one eye on the clock, congressional
negotiators labored Thursday to settle disputes standing in the way of
agreement on the most sweeping changes to the pension system in years.
House Majority Leader John Boehner, R-Ohio,
said there continued to be a House-Senate split on whether to attach a
package of popular federal tax breaks to the pension bill. Senate
negotiators want it on the bill, while House GOP leaders prefer a
separate tax bill linking the tax breaks to an estate tax cut that the
Senate has rejected on several occasions.
House and Senate staffers worked through the
night to draft language on the pension bill that would restructure, and
ideally restore financial integrity to, traditional employer-based
pension plans.
Lawmakers were reviewing that language
Thursday, acknowledging that they would have to reach an agreement
during the day if the House is to pass the bill before its planned
departure Friday for the month-long August recess. The Senate will be
in session one more week.
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