Legislation to help distressed multi-employer pension plans by creating a new federal loan program is moving forward. At ENR press time the House was poised to vote on a bill that had cleared the Ways and Means and Education and Labor committees. If the chamber, as expected, does pass the bill before the August break, attention would shift to the Senate, where the outlook for pension legislation is uncertain. Sens. Sherrod Brown (D) and Rob Port-man (R), both from Ohio, are working on a possible bipartisan multiemployer pension bill, according to Portman and Jennifer Donohue, a Brown spokesperson.
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