- Banned
- #1
WASHINGTON, April 1 (Reuters) - U.S. House and Senate negotiators writing a final version of a pension bill agreed on Thursday to provide some $80 billion in pension relief for U.S. companies by changing a formula for contributions.
But the pact came without any support from Democrats on the panel.
The lawmakers also agreed there should be another $1.6 billion in extra aid for major airlines and steel companies. After days of haggling, they agreed there would be limited help for multi-employer pension plans as well.
The panel is expected to have staff draft the final language of the bill so it can be sent to the House and Senate as soon as possible. Both chambers must pass the measure before it can be sent to President Bush for signing into law.
But the pact came without any support from Democrats on the panel.
The lawmakers also agreed there should be another $1.6 billion in extra aid for major airlines and steel companies. After days of haggling, they agreed there would be limited help for multi-employer pension plans as well.
The panel is expected to have staff draft the final language of the bill so it can be sent to the House and Senate as soon as possible. Both chambers must pass the measure before it can be sent to President Bush for signing into law.
