Congress Heads Home Without Passing Pension Relief

[Khephra]

Congress Heads Home Without Passing Pension Relief
By REUTERS

Published: December 9, 2003


Filed at 7:22 p.m. ET

WASHINGTON (Reuters) - The U.S. Congress was heading home for the holidays on Tuesday without making progress on pension relief for airlines and other companies struggling to fund traditional pension plans.

Senate leaders said they hoped to address the underfunding problems with ``defined benefit'' pensions when lawmakers return to work in January. Nationwide these pensions are underfunded by about $350 billion, the government estimates.

Disappointed business groups said failure to provide relief now would cost companies billions of dollars that could have gone into things such as new jobs or investment, but would have to be set aside to finance pension requirements that are expected to balloon further in the new year.

more....

http://www.nytimes.com/reuters/politics/politics-congress-pensions.html

[Bushfire]

1. Hit their offices regarding their recess schedule for this thread in GD

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=858196

to push for Rush Holt's, and now Bob Graham's bill in the Senate on BBV.