Washington Watch: Pension Reform's Future This Congressional Year
In the spring, immediately following the collapse of Enron and WorldCom, it seemed inevitable that Congress would pass pension reform legislation this year. Multiple bills were introduced in the House and Senate with much fanfare. However, due to a shift in energy toward homeland security concerns and Iraq, the pension legislation (now whittled down to 3 bills-1 that has passed the House and 2 being debated in the Senate) does not appear to have a good chance of passing this year. Congress adjourned late this month to return to their home states to campaign for the November 5th elections. Although it is possible that the 107th Congress will meet after the elections and before the new 108th Congress is sworn in January 2003, these "lameduck" sessions are notoriously unproductive. It is more likely that the 108th Congress will pick up the legislation next year.
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