Divisive Pension Loan Program Clears House Tax Panel

July 10, 2019, 9:34 PM

House tax writers July 10 approved a government-backed loan program for underfunded pension plans that Republicans maintain has no chance of becoming law.

At the same time, a lead Republican senator in the pension space told Bloomberg Law that he’s attempting to craft a plan to address the pension crisis that the GOP can live with.

Sen. Rob Portman (R-Ohio), an alumnus of the failed joint committee who earlier this year assumed control of the Finance Committee’s pension panel, said he’s working with Sen. Sherrod Brown (D-Ohio) on an evolving alternative.

“My hope is that we can pull something ...

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