What: All Issues : Labor Rights : Pension Protections : A vote on final passage of a pension reform conference report -- the culmination of House and Senate negotiations to reconcile their differing bills - which would allow the bill to pass the House and travel to President Bush's desk for his signature.
 Who: All Members
[POW!]
 

To find out how your Members of Congress voted on this bill, use the form on the right.

A vote on final passage of a pension reform conference report -- the culmination of House and Senate negotiations to reconcile their differing bills - which would allow the bill to pass the House and travel to President Bush's desk for his signature.
house Roll Call 117     Apr 02, 2004
Y = Conservative
N = Progressive
Winning Side:
Conservative

House Progressives were unsuccessful in stopping a short-term pension reform conference report -- the culmination of House and Senate negotiations to reconcile their differing bills - from passing the House and traveling to President Bush's desk for his signature. Bush signed the measure into law April 8. Conservatives argued that the legislation (HR 3108), called the Pension Funding Equity Act, could save employer sponsors of pension plans $80 billion over the next two years in reduced company pension contributions -- thereby freeing up company funds and providing a substantial boost to business investment and hiring around the country, conservatives said. However, progressives argued that the bill did not do enough to save multiemployer plans, a smaller group of funds run jointly by unions and management, from being forced to make massive and crippling payments, and unsuccessfully sought to recommit the bill to committee. Progressives had targeted a range of multi-employer plans for relief by permitting those with pension funding shortfalls between mid-2002 and mid-2006 to put off recognizing the deficiencies on their books. That way, the companies sponsoring those plans could escape hefty excise taxes levied on underfunded multi-employer plans, amid hopes for a stock market rebound that would boost plan assets. However, the final House vote tally in favor of approving the conference report was 336-69, thus leaving the shortfalls faced by multi-employer plans unaddressed.

Issue Areas:

Find your Member of
Congress' votes

Select by Name